Other equities analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Scynexis from a hold rating to a buy rating and set a $3.25 price objective on the stock in a research report on Friday, August 26th. Guggenheim initiated coverage on shares of Scynexis in a research report on Wednesday, August 17th. They set a buy rating and a $15.00 price objective on the stock. WBB Securities raised shares of Scynexis from a speculative buy rating to a buy rating and set a $8.00 price objective on the stock in a research report on Tuesday, August 9th. Needham & Company LLC cut their price objective on shares of Scynexis from $16.00 to $10.00 and set a buy rating on the stock in a research report on Tuesday, August 9th. Finally, Canaccord Genuity reaffirmed a buy rating on shares of Scynexis in a research report on Thursday, June 9th. Seven analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and a consensus price target of $12.18.
Shares of Scynexis (NASDAQ:SCYX) opened at 4.82 on Monday. The company has a 50-day moving average of $3.36 and a 200 day moving average of $3.19. The firm’s market capitalization is $112.90 million. Scynexis has a 12-month low of $1.74 and a 12-month high of $7.69.
Scynexis (NASDAQ:SCYX) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by $0.04. Scynexis had a negative return on equity of 73.13% and a negative net margin of 12,239.31%. On average, analysts predict that Scynexis will post ($2.13) EPS for the current year.
In related news, Director Patrick Machado purchased 40,000 shares of the stock in a transaction on Thursday, September 15th. The shares were bought at an average price of $2.94 per share, for a total transaction of $117,600.00. Following the completion of the acquisition, the director now directly owns 60,000 shares in the company, valued at approximately $176,400. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.91% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Granite Point Capital Management L.P. bought a new position in shares of Scynexis during the second quarter valued at approximately $380,000. Private Advisor Group LLC increased its stake in shares of Scynexis by 100.0% in the second quarter. Private Advisor Group LLC now owns 200,000 shares of the company’s stock valued at $434,000 after buying an additional 100,000 shares during the last quarter. UBS Oconnor LLC bought a new stake in shares of Scynexis during the second quarter valued at about $542,000. Sabby Management LLC bought a new stake in shares of Scynexis during the second quarter valued at about $1,243,000. Finally, Deerfield Management Co. increased its stake in shares of Scynexis by 21.8% in the first quarter. Deerfield Management Co. now owns 848,000 shares of the company’s stock valued at $3,417,000 after buying an additional 151,719 shares during the last quarter. Institutional investors own 60.30% of the company’s stock.
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.
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