SCYNEXIS (SCYX) Receives New Coverage from Analysts at Canaccord Genuity

Canaccord Genuity started coverage on shares of SCYNEXIS (NASDAQ:SCYX) in a research report report published on Friday morning. The brokerage issued a buy rating and a $4.00 price target on the stock.

Several other research firms also recently weighed in on SCYX. ValuEngine raised shares of SCYNEXIS from a sell rating to a hold rating in a research report on Wednesday, May 2nd. LADENBURG THALM/SH SH assumed coverage on shares of SCYNEXIS in a research report on Thursday, May 24th. They issued a buy rating and a $9.00 target price for the company. HC Wainwright assumed coverage on shares of SCYNEXIS in a research report on Monday, May 7th. They set a buy rating and a $5.00 price objective for the company. Zacks Investment Research raised shares of SCYNEXIS from a hold rating to a buy rating and set a $1.25 price objective for the company in a research report on Tuesday, May 8th. Finally, Seaport Global Securities assumed coverage on shares of SCYNEXIS in a research report on Tuesday, April 10th. They set a buy rating and a $4.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. SCYNEXIS presently has an average rating of Buy and a consensus target price of $5.16.

Shares of SCYX traded down $0.01 during midday trading on Friday, hitting $1.64. The company had a trading volume of 513,501 shares, compared to its average volume of 712,304. The company has a market capitalization of $77.29 million, a P/E ratio of -1.62 and a beta of 0.49. SCYNEXIS has a 52 week low of $1.05 and a 52 week high of $2.50. 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 (NASDAQ:SCYX) last released its earnings results on Tuesday, May 8th. The company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.06. The company had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.10 million. SCYNEXIS had a negative net margin of 9,450.00% and a negative return on equity of 78.78%. sell-side analysts expect that SCYNEXIS will post -0.65 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in SCYX. Federated Investors Inc. PA grew its position in shares of SCYNEXIS by 63.2% during the 1st quarter. Federated Investors Inc. PA now owns 6,868,400 shares of the company’s stock valued at $9,204,000 after buying an additional 2,660,000 shares during the last quarter. CVI Holdings LLC bought a new stake in shares of SCYNEXIS during the 1st quarter valued at about $1,746,000. Rock Springs Capital Management LP grew its position 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 valued at $1,099,000 after buying an additional 60,000 shares during the last quarter. DAFNA Capital Management LLC grew its position 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 valued at $2,193,000 after buying an additional 1,130,000 shares during the last quarter. Finally, Caxton Corp acquired a new position in SCYNEXIS during the 1st quarter valued at about $2,566,000. 49.00% of the stock is owned by institutional investors and hedge funds.

SCYNEXIS Company Profile

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.

Analyst Recommendations for SCYNEXIS (NASDAQ:SCYX)

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