SCYNEXIS (NASDAQ:SCYX) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of SCYNEXIS (NASDAQ:SCYX) from a strong sell rating to a hold rating in a report issued on Sunday morning.

SCYX has been the topic of a number of other research reports. Guggenheim reaffirmed a “buy” rating and set a $33.00 price objective (up from $24.00) on shares of SCYNEXIS in a research note on Thursday. Brookline Capital Markets reiterated a “buy” rating on shares of SCYNEXIS in a report on Friday, July 31st. Finally, Weiss Ratings raised shares of SCYNEXIS from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.00.

SCYNEXIS Price Performance

Shares of SCYX opened at $5.18 on Friday. SCYNEXIS has a 1-year low of $3.53 and a 1-year high of $10.48. The stock has a market cap of $51.54 million, a price-to-earnings ratio of -2.48 and a beta of 1.09. The firm has a 50 day simple moving average of $4.36 and a 200-day simple moving average of $5.86.

SCYNEXIS (NASDAQ:SCYX) last posted its earnings results on Monday, August 10th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $1.14. The firm had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.08 million. SCYNEXIS had a negative return on equity of 44.15% and a negative net margin of 41.79%. On average, equities analysts expect that SCYNEXIS will post -1.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Effects LLC acquired a new stake in shares of SCYNEXIS in the second quarter worth approximately $56,000. Jane Street Group LLC purchased a new stake in SCYNEXIS in the second quarter valued at approximately $27,000. BlackRock Inc. acquired a new position in SCYNEXIS during the second quarter worth approximately $169,000. ADAR1 Capital Management LLC acquired a new position in SCYNEXIS during the second quarter worth approximately $201,000. Finally, Empery Asset Management LP purchased a new position in SCYNEXIS during the second quarter worth approximately $514,656,000. Institutional investors and hedge funds own 54.37% of the company’s stock.

SCYNEXIS Company Profile

SCYNEXIS, Inc is a late?stage biopharmaceutical company focused on developing and commercializing novel anti?infective therapies. Headquartered in Jersey City, New Jersey, the company’s primary research and development efforts center on combating invasive and chronic fungal infections, an area of high unmet medical need. SCYNEXIS’s scientific platform is built around its proprietary triterpenoid class of antifungals, which are designed to address resistance and safety limitations associated with existing treatments.

The company’s lead product candidate, ibrexafungerp, represents the first oral glucan synthase inhibitor to reach clinical development.