SCYNEXIS (SCYX) Stock Rating Lowered by Zacks Investment Research

SCYNEXIS (NASDAQ:SCYX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.

According to Zacks, “SCYNEXIS, Inc. is a pharmaceutical company. It is engaged in the discovery, development, and commercialization of anti-infectives to address unmet therapeutic needs. The Company is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of serious and life-threatening invasive fungal infections in humans. It also provides contract research and development services. SCYNEXIS, Inc. is headquartered in Durham, North Carolina. “

Other analysts have also recently issued reports about the stock. HC Wainwright set a $14.00 target price on shares of SCYNEXIS and gave the company a “buy” rating in a research note on Wednesday, August 16th. Roth Capital set a $9.00 target price on shares of SCYNEXIS and gave the company a “buy” rating in a research note on Monday, August 7th. Guggenheim initiated coverage on shares of SCYNEXIS in a research note on Tuesday, October 24th. They issued a “buy” rating and a $6.00 target price for the company. Finally, ValuEngine cut shares of SCYNEXIS from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. SCYNEXIS currently has a consensus rating of “Buy” and a consensus price target of $8.43.

Shares of SCYNEXIS (SCYX) opened at $2.06 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.30 and a quick ratio of 7.30. SCYNEXIS has a one year low of $1.52 and a one year high of $3.82.

Several large investors have recently added to or reduced their stakes in SCYX. 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 purchasing an additional 800,040 shares during the period. National Asset Management Inc. bought a new position in shares of SCYNEXIS in the second quarter valued at approximately $551,000. DAFNA Capital Management LLC raised its position in shares of SCYNEXIS by 32.7% in the second quarter. DAFNA Capital Management LLC now owns 506,900 shares of the company’s stock valued at $907,000 after purchasing an additional 125,000 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of SCYNEXIS in the third quarter valued at approximately $264,000. Finally, 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 purchasing an additional 48,978 shares during the period. 31.16% of the stock is currently owned by institutional investors.

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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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