SCYNEXIS (SCYX) Rating Reiterated by Needham & Company LLC

SCYNEXIS (NASDAQ:SCYX)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a note issued to investors on Tuesday, April 16th, reports. They currently have a $5.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 235.57% from the stock’s current price.

Several other research firms also recently commented on SCYX. Maxim Group reissued a “buy” rating and issued a $4.00 price objective on shares of SCYNEXIS in a research note on Monday, March 18th. Zacks Investment Research raised SCYNEXIS from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a research note on Thursday, February 21st. Finally, Brookline Capital Management reaffirmed a “buy” rating on shares of SCYNEXIS in a research note on Friday, January 4th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $4.75.

SCYNEXIS stock traded down $0.01 during mid-day trading on Tuesday, hitting $1.49. The company had a trading volume of 356,053 shares, compared to its average volume of 1,147,790. The company has a current ratio of 8.76, a quick ratio of 8.76 and a debt-to-equity ratio of 0.48. SCYNEXIS has a 12-month low of $0.35 and a 12-month high of $2.15. The firm has a market cap of $79.64 million, a PE ratio of -3.04 and a beta of 2.36.

SCYNEXIS (NASDAQ:SCYX) last announced its earnings results on Thursday, March 14th. The company reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.05. SCYNEXIS had a negative return on equity of 74.32% and a negative net margin of 4,869.53%. The business had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.06 million. On average, equities research analysts forecast that SCYNEXIS will post -0.76 EPS for the current year.

In other SCYNEXIS news, CEO Marco Taglietti purchased 25,000 shares of the stock in a transaction dated Wednesday, April 17th. The stock was acquired at an average cost of $1.63 per share, for a total transaction of $40,750.00. Following the acquisition, the chief executive officer now owns 506,000 shares in the company, valued at approximately $824,780. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.25% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in SCYNEXIS by 77.5% during the 1st quarter. BlackRock Inc. now owns 339,173 shares of the company’s stock valued at $512,000 after acquiring an additional 148,132 shares during the period. Creative Planning boosted its holdings in SCYNEXIS by 153.5% during the 1st quarter. Creative Planning now owns 127,176 shares of the company’s stock valued at $192,000 after acquiring an additional 77,000 shares during the period. Bailard Inc. purchased a new position in SCYNEXIS during the 1st quarter valued at about $196,000. Deutsche Bank AG purchased a new position in SCYNEXIS during the 4th quarter valued at about $121,000. Finally, Two Sigma Investments LP purchased a new position in SCYNEXIS during the 4th quarter valued at about $80,000. Institutional investors and hedge funds own 31.90% of the company’s stock.

SCYNEXIS Company Profile

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.

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Analyst Recommendations for SCYNEXIS (NASDAQ:SCYX)

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