Scynexis (NASDAQ:SCYX) – Investment analysts at Seaport Global Securities upped their Q2 2018 earnings per share estimates for shares of Scynexis in a report issued on Tuesday, May 15th. Seaport Global Securities analyst C. Davis now forecasts that the company will post earnings per share of ($0.16) for the quarter, up from their previous estimate of ($0.17). Seaport Global Securities has a “Buy” rating and a $4.00 price objective on the stock. Seaport Global Securities also issued estimates for Scynexis’ Q3 2018 earnings at ($0.20) EPS, Q4 2018 earnings at ($0.24) EPS, FY2018 earnings at ($0.71) EPS, FY2019 earnings at ($0.67) EPS, FY2020 earnings at ($0.70) EPS, FY2021 earnings at ($0.76) EPS and FY2022 earnings at ($0.12) EPS.
Several other research firms have also recently issued reports on SCYX. ValuEngine upgraded Scynexis from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. HC Wainwright started coverage on Scynexis in a report on Monday, May 7th. They issued a “buy” rating and a $5.00 price objective on the stock. Zacks Investment Research upgraded Scynexis from a “hold” rating to a “buy” rating and set a $1.25 price objective on the stock in a report on Tuesday, May 8th. Finally, Roth Capital started coverage on Scynexis in a report on Tuesday, May 8th. They issued a “buy” rating and a $6.00 price objective on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $4.45.
SCYX stock opened at $1.63 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.93 and a current ratio of 5.93. Scynexis has a 12-month low of $1.05 and a 12-month high of $2.50. The stock has a market capitalization of $66.75 million, a P/E ratio of -1.61 and a beta of 0.27.
Scynexis (NASDAQ:SCYX) last posted its quarterly earnings data on Tuesday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.06. Scynexis had a negative return on equity of 78.78% and a negative net margin of 9,450.00%. The company had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.10 million.
In related news, CEO Marco Taglietti bought 100,000 shares of the stock in a transaction dated Thursday, March 8th. The shares were acquired at an average cost of $1.69 per share, for a total transaction of $169,000.00. Following the acquisition, the chief executive officer now directly owns 404,000 shares in the company, valued at approximately $682,760. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have bought 141,500 shares of company stock worth $237,155. Insiders own 4.00% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Iguana Healthcare Management LLC boosted its holdings in shares of Scynexis by 60.0% during the 1st quarter. Iguana Healthcare Management LLC now owns 400,000 shares of the company’s stock worth $536,000 after purchasing an additional 150,000 shares during the last quarter. Caxton Corp acquired a new position in shares of Scynexis during the 1st quarter worth approximately $2,566,000. DAFNA Capital Management LLC boosted its holdings in shares of Scynexis by 222.9% during the 1st quarter. DAFNA Capital Management LLC now owns 1,636,900 shares of the company’s stock worth $2,193,000 after purchasing an additional 1,130,000 shares during the last quarter. Rock Springs Capital Management LP boosted its holdings in shares of Scynexis by 7.9% during the 1st quarter. Rock Springs Capital Management LP now owns 820,000 shares of the company’s stock worth $1,099,000 after purchasing an additional 60,000 shares during the last quarter. Finally, CVI Holdings LLC acquired a new position in shares of Scynexis during the 1st quarter worth approximately $1,746,000. Institutional investors and hedge funds own 18.50% of the company’s stock.
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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