SCYNEXIS’s (SCYX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of SCYNEXIS (NASDAQ:SCYX) in a research report report published on Monday, AnalystRatings.com reports. They currently have a $5.00 price target on the stock.

Other research analysts also recently issued reports about the stock. Maxim Group set a $4.00 target price on shares of SCYNEXIS and gave the company a buy rating in a research report on Wednesday, July 24th. LADENBURG THALM/SH SH set a $6.00 target price on shares of SCYNEXIS and gave the company a buy rating in a research report on Friday, May 24th. ValuEngine downgraded shares of SCYNEXIS from a buy rating to a hold rating in a research report on Saturday, May 18th. Aegis began coverage on shares of SCYNEXIS in a research report on Wednesday, July 31st. They issued a buy rating for the company. Finally, Zacks Investment Research downgraded shares of SCYNEXIS from a hold rating to a sell rating in a research report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. SCYNEXIS has an average rating of Buy and a consensus target price of $4.30.

NASDAQ SCYX opened at $1.04 on Monday. The company has a market capitalization of $59.61 million, a PE ratio of -2.12 and a beta of 2.31. The company has a fifty day moving average of $1.19 and a 200 day moving average of $1.35. SCYNEXIS has a 1 year low of $0.35 and a 1 year high of $1.90. The company has a debt-to-equity ratio of 1.73, a current ratio of 4.99 and a quick ratio of 4.99.

SCYNEXIS (NASDAQ:SCYX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The company had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.06 million. SCYNEXIS had a negative net margin of 11,653.81% and a negative return on equity of 141.28%. Research analysts expect that SCYNEXIS will post -0.9 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of SCYNEXIS by 47.7% during the second quarter. Vanguard Group Inc. now owns 2,373,737 shares of the company’s stock valued at $3,110,000 after buying an additional 766,865 shares during the last quarter. BlackRock Inc. grew its holdings in shares of SCYNEXIS by 152.0% during the second quarter. BlackRock Inc. now owns 854,880 shares of the company’s stock valued at $1,121,000 after buying an additional 515,707 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of SCYNEXIS by 86.1% during the second quarter. Renaissance Technologies LLC now owns 475,315 shares of the company’s stock valued at $623,000 after buying an additional 219,900 shares during the last quarter. Creative Planning grew its holdings in shares of SCYNEXIS by 9.3% during the second quarter. Creative Planning now owns 139,000 shares of the company’s stock valued at $182,000 after buying an additional 11,824 shares during the last quarter. Finally, Bailard Inc. purchased a new stake in shares of SCYNEXIS during the first quarter valued at $196,000. Institutional investors and hedge funds own 30.71% of the company’s stock.

SCYNEXIS Company Profile

SCYNEXIS, Inc is a biotechnology company, which engages in the development of novel oral and intravenous triterpenoid antifungal for the treatment of several serious fungal infections, including vulvovaginal candidiasis, invasive aspergillosis, invasive candidiasis, and refractory invasive fungal infections.

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Analyst Recommendations for SCYNEXIS (NASDAQ:SCYX)

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