Zacks: Analysts Expect SCYNEXIS Inc (NASDAQ:SCYX) to Post -$0.22 Earnings Per Share

Wall Street brokerages forecast that SCYNEXIS Inc (NASDAQ:SCYX) will report ($0.22) earnings per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for SCYNEXIS’s earnings, with the highest EPS estimate coming in at ($0.21) and the lowest estimate coming in at ($0.23). SCYNEXIS posted earnings of ($0.14) per share in the same quarter last year, which would suggest a negative year over year growth rate of 57.1%. The company is scheduled to report its next quarterly earnings results on Tuesday, November 12th.

On average, analysts expect that SCYNEXIS will report full year earnings of ($0.97) per share for the current financial year, with EPS estimates ranging from ($1.01) to ($0.93). For the next financial year, analysts forecast that the firm will report earnings of ($0.49) per share, with EPS estimates ranging from ($0.66) to ($0.38). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover SCYNEXIS.

SCYNEXIS (NASDAQ:SCYX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The business had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.06 million. SCYNEXIS had a negative net margin of 11,653.81% and a negative return on equity of 141.28%.

SCYX has been the topic of a number of research analyst reports. Maxim Group set a $4.00 price target on shares of SCYNEXIS and gave the company a “buy” rating in a research note on Wednesday, July 24th. ValuEngine cut shares of SCYNEXIS from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Needham & Company LLC restated a “buy” rating and issued a $5.00 price objective on shares of SCYNEXIS in a report on Monday, August 12th. Zacks Investment Research cut shares of SCYNEXIS from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd. Finally, Aegis began coverage on shares of SCYNEXIS in a report on Wednesday, July 31st. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. SCYNEXIS currently has a consensus rating of “Buy” and an average price target of $4.30.

Several hedge funds have recently made changes to their positions in SCYX. Deutsche Bank AG acquired a new position in SCYNEXIS during the 4th quarter worth approximately $121,000. Creative Planning grew its holdings in SCYNEXIS by 9.3% during the 2nd quarter. Creative Planning now owns 139,000 shares of the company’s stock worth $182,000 after acquiring an additional 11,824 shares in the last quarter. Bailard Inc. acquired a new position in SCYNEXIS during the 1st quarter worth approximately $196,000. Renaissance Technologies LLC grew its holdings in SCYNEXIS by 86.1% during the 2nd quarter. Renaissance Technologies LLC now owns 475,315 shares of the company’s stock worth $623,000 after acquiring an additional 219,900 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in SCYNEXIS by 152.0% during the 2nd quarter. BlackRock Inc. now owns 854,880 shares of the company’s stock worth $1,121,000 after acquiring an additional 515,707 shares in the last quarter. Hedge funds and other institutional investors own 31.55% of the company’s stock.

Shares of SCYNEXIS stock traded down $0.05 on Friday, reaching $1.10. The company had a trading volume of 164,657 shares, compared to its average volume of 228,055. The firm’s 50 day moving average price is $1.16 and its two-hundred day moving average price is $1.34. The firm has a market cap of $61.84 million, a PE ratio of -2.24 and a beta of 2.31. SCYNEXIS has a 52-week low of $0.35 and a 52-week high of $1.90. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.99 and a current ratio of 4.99.

SCYNEXIS Company Profile

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.

See Also: What are popular green investing opportunities?

Get a free copy of the Zacks research report on SCYNEXIS (SCYX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.