SCYNEXIS Inc (SCYX) Receives Consensus Recommendation of “Buy” from Brokerages

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

A number of research firms recently weighed in on SCYX. Zacks Investment Research downgraded SCYNEXIS from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. ValuEngine raised SCYNEXIS from a “hold” rating to a “buy” rating in a research report on Thursday. Maxim Group decreased their target price on SCYNEXIS from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, October 16th. HC Wainwright set a $5.00 target price on SCYNEXIS and gave the stock a “buy” rating in a research report on Wednesday, July 11th. Finally, Needham & Company LLC raised SCYNEXIS from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research report on Wednesday, July 11th.

In related news, CEO Marco Taglietti acquired 25,000 shares of the firm’s stock in a transaction on Thursday, August 23rd. The shares were bought at an average cost of $1.29 per share, with a total value of $32,250.00. Following the completion of the acquisition, the chief executive officer now owns 429,000 shares of the company’s stock, valued at $553,410. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.25% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCYX. Private Advisor Group LLC acquired a new stake in SCYNEXIS during the third quarter valued at approximately $240,000. Renaissance Technologies LLC acquired a new stake in SCYNEXIS during the second quarter valued at approximately $190,000. Kabarec Financial Advisors Ltd. acquired a new stake in SCYNEXIS during the second quarter valued at approximately $130,000. BlackRock Inc. boosted its holdings in SCYNEXIS by 61.5% during the second quarter. BlackRock Inc. now owns 180,751 shares of the company’s stock valued at $296,000 after purchasing an additional 68,830 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in SCYNEXIS by 132.7% during the second quarter. Northern Trust Corp now owns 116,079 shares of the company’s stock valued at $190,000 after purchasing an additional 66,193 shares in the last quarter. 40.87% of the stock is currently owned by institutional investors.

SCYX stock traded down $0.02 during trading on Friday, reaching $0.98. 135,508 shares of the stock were exchanged, compared to its average volume of 411,154. SCYNEXIS has a twelve month low of $0.93 and a twelve month high of $2.45.

SCYNEXIS (NASDAQ:SCYX) last released its earnings results on Thursday, August 9th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.06). The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.08 million.

About SCYNEXIS

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.

Further Reading: What does EPS mean?

Analyst Recommendations for SCYNEXIS (NASDAQ:SCYX)

Receive News & Ratings for SCYNEXIS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SCYNEXIS and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply