A number of research firms have changed their ratings and price targets for SCYNEXIS (NASDAQ: SCYX):
- 5/22/2019 – SCYNEXIS was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “SCYNEXIS, Inc. is a pharmaceutical company. It is engaged in the discovery, development, and commercialization of anti-infectives to address unmet therapeutic needs. The Company is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of serious and life-threatening invasive fungal infections in humans. It also provides contract research and development services. SCYNEXIS, Inc. is headquartered in Durham, North Carolina. “
- 5/18/2019 – SCYNEXIS was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
- 5/12/2019 – SCYNEXIS had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $5.00 price target on the stock. They wrote, “Scynexis reported 1Q19 financial results this wk and we spoke w/ mgmt for an update. Enrollment in ibrexafungerp Phase 3 VANISH program in Acute Vulvovaginal Candidiasis (VVC) is progressing and mgmt reiterated guidance for top-line results in 1H20. Phase 3 CANDLE trial in Recurrent VVC is expected to start in 2Q19 (unch). Reiterate BUY. We believe commercial opportunity in VVC is substantially underappreciated by investors given there are no oral options for pts w/ poor response to standard of care oral fluconazole. Recent encouraging data from FURI and CARES trials demonstrating impressive activity against challenging infections (including tied to C. auris) enhances overall profile.””
- 5/8/2019 – SCYNEXIS was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
- 4/16/2019 – SCYNEXIS had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $5.00 price target on the stock.
SCYX stock traded down $0.04 during mid-day trading on Thursday, reaching $1.23. 606,718 shares of the company traded hands, compared to its average volume of 1,074,705. The company has a quick ratio of 8.64, a current ratio of 8.64 and a debt-to-equity ratio of 1.91. The firm has a market capitalization of $68.14 million, a PE ratio of -2.51 and a beta of 2.36. SCYNEXIS Inc has a 52-week low of $0.35 and a 52-week high of $2.15.
SCYNEXIS (NASDAQ:SCYX) last posted its earnings results on Thursday, March 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.05. The firm had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.06 million. SCYNEXIS had a negative return on equity of 127.47% and a negative net margin of 12,254.69%. On average, equities research analysts anticipate that SCYNEXIS Inc will post -0.89 EPS for the current fiscal year.
In other news, CEO Marco Taglietti bought 25,000 shares of the stock in a transaction on Wednesday, April 17th. The shares were bought at an average price of $1.63 per share, with a total value of $40,750.00. Following the completion of the acquisition, the chief executive officer now owns 506,000 shares in the company, valued at $824,780. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.56% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. purchased a new stake in SCYNEXIS in the first quarter worth about $56,000. Two Sigma Investments LP purchased a new stake in shares of SCYNEXIS during the fourth quarter worth about $80,000. Deutsche Bank AG purchased a new stake in shares of SCYNEXIS during the fourth quarter worth about $121,000. Creative Planning grew its position in shares of SCYNEXIS by 153.5% during the first quarter. Creative Planning now owns 127,176 shares of the company’s stock worth $192,000 after purchasing an additional 77,000 shares in the last quarter. Finally, Bailard Inc. purchased a new stake in shares of SCYNEXIS during the first quarter worth about $196,000. Institutional investors and hedge funds own 31.30% of the company’s stock.
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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