SCYNEXIS Inc (SCYX) Receives $10.00 Average Price Target from Brokerages

Shares of SCYNEXIS Inc (NASDAQ:SCYX) have received a consensus rating of “Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One research 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. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $10.00.

SCYX has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of SCYNEXIS from a “hold” rating to a “buy” rating and set a $2.00 price objective on the stock in a report on Tuesday, November 14th. Guggenheim initiated coverage on shares of SCYNEXIS in a report on Tuesday, October 24th. They issued a “buy” rating and a $6.00 price objective on the stock. Finally, ValuEngine upgraded shares of SCYNEXIS from a “strong sell” rating to a “sell” rating in a report on Saturday, December 9th.

Shares of SCYNEXIS (SCYX) traded down $0.04 during mid-day trading on Tuesday, reaching $1.88. 190,925 shares of the company’s stock were exchanged, compared to its average volume of 262,070. SCYNEXIS has a 52-week low of $1.52 and a 52-week high of $3.82. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.30 and a quick ratio of 7.30. The firm has a market cap of $53.69, a price-to-earnings ratio of -2.32 and a beta of 0.36.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP bought a new stake in shares of SCYNEXIS in the 3rd quarter worth about $264,000. GSA Capital Partners LLP increased its position in shares of SCYNEXIS by 33.7% in the 2nd quarter. GSA Capital Partners LLP now owns 176,700 shares of the company’s stock worth $316,000 after purchasing an additional 44,500 shares during the last quarter. National Asset Management Inc. bought a new stake in shares of SCYNEXIS in the 2nd quarter worth about $551,000. DAFNA Capital Management LLC increased its position in shares of SCYNEXIS by 32.7% in the 2nd quarter. DAFNA Capital Management LLC now owns 506,900 shares of the company’s stock worth $907,000 after purchasing an additional 125,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of SCYNEXIS by 6.0% in the 2nd quarter. Vanguard Group Inc. now owns 868,394 shares of the company’s stock worth $1,554,000 after purchasing an additional 48,978 shares during the last quarter. 30.90% of the stock is owned by institutional investors.

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About SCYNEXIS

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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