SCYNEXIS Inc (NASDAQ:SCYX) Receives Average Rating of “Buy” from Analysts

Shares of SCYNEXIS Inc (NASDAQ:SCYX) have been assigned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $4.80.

A number of research analysts have recently issued reports on the stock. Maxim Group set a $4.00 price objective on shares of SCYNEXIS and gave the company a “buy” rating in a report on Wednesday, July 24th. ValuEngine cut shares of SCYNEXIS from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Aegis assumed coverage on shares of SCYNEXIS in a report on Wednesday, July 31st. They set a “buy” rating for the company. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price objective on shares of SCYNEXIS in a report on Sunday, May 12th. Finally, LADENBURG THALM/SH SH set a $6.00 price objective on shares of SCYNEXIS and gave the company a “buy” rating in a report on Friday, May 24th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bailard Inc. bought a new position in shares of SCYNEXIS during the first quarter valued at about $196,000. Creative Planning raised its position in shares of SCYNEXIS by 153.5% in the first quarter. Creative Planning now owns 127,176 shares of the company’s stock valued at $192,000 after purchasing an additional 77,000 shares during the period. Deutsche Bank AG bought a new stake in shares of SCYNEXIS in the fourth quarter valued at approximately $121,000. Finally, Two Sigma Investments LP bought a new stake in shares of SCYNEXIS in the fourth quarter valued at approximately $80,000. 30.67% of the stock is currently owned by institutional investors.

NASDAQ:SCYX traded down $0.03 during trading hours on Monday, reaching $1.08. The company had a trading volume of 6,977 shares, compared to its average volume of 260,974. The company has a current ratio of 8.64, a quick ratio of 8.64 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $56.52 million, a price-to-earnings ratio of -2.20 and a beta of 2.31. The stock has a 50-day moving average price of $1.25. SCYNEXIS has a twelve month low of $0.35 and a twelve month high of $1.90.

SCYNEXIS (NASDAQ:SCYX) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). The business had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.09 million. SCYNEXIS had a negative net margin of 12,254.69% and a negative return on equity of 127.47%. As a group, equities analysts predict that SCYNEXIS will post -0.9 EPS for the current year.

About SCYNEXIS

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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Analyst Recommendations for SCYNEXIS (NASDAQ:SCYX)

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