SCYNEXIS, Inc. (NASDAQ:SCYX) Receives Average Recommendation of “Buy” from Analysts

Shares of SCYNEXIS, Inc. (NASDAQ:SCYX) have earned an average rating of “Buy” from the ten brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $10.71.

Several research firms recently issued reports on SCYX. Roth Capital set a $9.00 price target on shares of SCYNEXIS and gave the stock a “buy” rating in a research note on Monday, August 7th. Zacks Investment Research raised shares of SCYNEXIS from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a research note on Wednesday, August 2nd. ValuEngine raised shares of SCYNEXIS from a “strong sell” rating to a “sell” rating in a research note on Friday, July 14th. Aegis reaffirmed a “buy” rating on shares of SCYNEXIS in a research note on Tuesday, May 30th. Finally, Needham & Company LLC downgraded shares of SCYNEXIS from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th.

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In related news, Director David C. Hastings acquired 20,000 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was bought at an average cost of $1.75 per share, with a total value of $35,000.00. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at $35,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.91% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of SCYNEXIS by 6.0% in the second quarter. Vanguard Group Inc. now owns 868,394 shares of the company’s stock valued at $1,554,000 after buying an additional 48,978 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of SCYNEXIS by 33.7% in the second quarter. GSA Capital Partners LLP now owns 176,700 shares of the company’s stock valued at $316,000 after buying an additional 44,500 shares in the last quarter. Federated Investors Inc. PA raised its position in shares of SCYNEXIS by 23.5% in the second quarter. Federated Investors Inc. PA now owns 4,208,400 shares of the company’s stock valued at $7,533,000 after buying an additional 800,040 shares in the last quarter. Iguana Healthcare Management LLC raised its position in shares of SCYNEXIS by 20.0% in the first quarter. Iguana Healthcare Management LLC now owns 300,000 shares of the company’s stock valued at $828,000 after buying an additional 50,000 shares in the last quarter. Finally, KCG Holdings Inc. bought a new position in shares of SCYNEXIS during the first quarter valued at $416,000. 46.26% of the stock is owned by institutional investors.

Shares of SCYNEXIS (SCYX) traded down 1.27% during trading on Friday, hitting $1.56. 159,791 shares of the company were exchanged. The company’s 50-day moving average price is $1.78 and its 200 day moving average price is $2.35. The stock’s market cap is $40.24 million. SCYNEXIS has a 12 month low of $1.52 and a 12 month high of $5.51.

SCYNEXIS Company Profile

SCYNEXIS, Inc is engaged in the discovery, development and commercialization of anti-infectives. The Company is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of several fungal infections, including serious invasive fungal infections. SCY-078 is a structurally distinct glucan synthase inhibitor that has been shown to be effective in vitro and in vivo in animal studies against a range of Candida and Aspergillus species, including drug-resistant strains.

Analyst Recommendations for SCYNEXIS (NASDAQ:SCYX)

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