SCYNEXIS Inc (SCYX) Receives $5.29 Consensus Price Target from Analysts

Shares of SCYNEXIS Inc (NASDAQ:SCYX) have received an average recommendation of “Buy” from the nine ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $5.29.

Several equities research analysts have recently weighed in on the company. Canaccord Genuity reiterated a “buy” rating and issued a $4.00 price target on shares of SCYNEXIS in a report on Tuesday, August 14th. Maxim Group reiterated a “buy” rating and issued a $6.00 price target on shares of SCYNEXIS in a report on Friday, August 10th. Zacks Investment Research downgraded SCYNEXIS from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. HC Wainwright set a $5.00 price target on SCYNEXIS and gave the stock a “buy” rating in a report on Tuesday, October 23rd. Finally, Needham & Company LLC set a $5.00 price target on SCYNEXIS and gave the stock a “buy” rating in a report on Friday, August 10th.

NASDAQ:SCYX opened at $0.77 on Wednesday. The company has a market capitalization of $35.83 million, a PE ratio of -0.76 and a beta of 0.59. SCYNEXIS has a 1 year low of $0.74 and a 1 year high of $2.45. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.53 and a quick ratio of 4.53.

SCYNEXIS (NASDAQ:SCYX) last issued its quarterly earnings results on Tuesday, November 13th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.18. SCYNEXIS had a negative return on equity of 102.52% and a negative net margin of 8,592.97%. The firm had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.06 million. Research analysts expect that SCYNEXIS will post -0.69 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Kabarec Financial Advisors Ltd. purchased a new position in SCYNEXIS during the 2nd quarter worth $130,000. Northern Trust Corp increased its holdings in SCYNEXIS by 132.7% during the 2nd quarter. Northern Trust Corp now owns 116,079 shares of the company’s stock worth $190,000 after purchasing an additional 66,193 shares during the period. Renaissance Technologies LLC purchased a new position in SCYNEXIS during the 2nd quarter worth $190,000. Private Advisor Group LLC purchased a new position in SCYNEXIS during the 3rd quarter worth $240,000. Finally, BlackRock Inc. increased its holdings in SCYNEXIS by 61.5% during the 2nd quarter. BlackRock Inc. now owns 180,751 shares of the company’s stock worth $296,000 after purchasing an additional 68,830 shares during the period. Hedge funds and other institutional investors own 39.96% of the company’s stock.

SCYNEXIS Company Profile

SCYNEXIS, Inc, a drug development company, develops and commercializes anti-infectives to address unmet therapeutic needs. It is developing its lead product candidate, SCY-078, as a novel oral and intravenous drug for the treatment of various fungal infections, including serious and life-threatening invasive fungal infections.

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Analyst Recommendations for SCYNEXIS (NASDAQ:SCYX)

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