SCYNEXIS Inc (NASDAQ:SCYX) Given Average Rating of “Buy” by Brokerages

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Shares of SCYNEXIS Inc (NASDAQ:SCYX) have been given an average recommendation of “Buy” by the seven brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $39.00.

A number of equities research analysts recently weighed in on SCYX shares. Needham & Company LLC started coverage on shares of SCYNEXIS in a research note on Monday, August 10th. They set a “buy” rating and a $50.00 price objective on the stock. Zacks Investment Research cut shares of SCYNEXIS from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $25.00 price target on shares of SCYNEXIS in a research report on Tuesday, August 11th. Aegis reiterated a “buy” rating and issued a $45.00 price target on shares of SCYNEXIS in a research report on Sunday, May 31st. Finally, HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of SCYNEXIS in a research report on Tuesday, May 19th.

Shares of NASDAQ SCYX traded down $0.26 during midday trading on Tuesday, reaching $4.94. 104,349 shares of the company traded hands, compared to its average volume of 61,468. SCYNEXIS has a 52 week low of $4.54 and a 52 week high of $14.40. The stock has a 50-day moving average price of $6.49 and a 200 day moving average price of $7.87. The company has a debt-to-equity ratio of 3.41, a current ratio of 5.55 and a quick ratio of 5.54. The company has a market cap of $52.37 million, a price-to-earnings ratio of -1.00 and a beta of 1.63.

SCYNEXIS (NASDAQ:SCYX) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.64) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.24. As a group, analysts expect that SCYNEXIS will post -3.88 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of SCYX. Federated Hermes Inc. raised its holdings in SCYNEXIS by 2.6% during the 1st quarter. Federated Hermes Inc. now owns 19,099,300 shares of the company’s stock worth $14,917,000 after buying an additional 488,888 shares during the period. Bridgeway Capital Management Inc. raised its holdings in SCYNEXIS by 263.3% during the 2nd quarter. Bridgeway Capital Management Inc. now owns 545,000 shares of the company’s stock worth $409,000 after buying an additional 395,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in SCYNEXIS by 363.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 229,964 shares of the company’s stock worth $180,000 after buying an additional 180,314 shares during the period. Charles Schwab Investment Management Inc. acquired a new stake in SCYNEXIS during the 2nd quarter worth about $83,000. Finally, Geode Capital Management LLC raised its holdings in SCYNEXIS by 19.5% during the 1st quarter. Geode Capital Management LLC now owns 642,257 shares of the company’s stock worth $501,000 after buying an additional 104,805 shares during the period.

SCYNEXIS Company Profile

SCYNEXIS, Inc, a biotechnology company, delivers therapies for the treatment fungal infections in the United States. It is developing its lead product candidate, ibrexafungerp, as a novel oral and intravenous drug for the treatment of various 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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