SCYNEXIS Inc (SCYX) Receives Average Recommendation of “Buy” from Analysts

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Shares of SCYNEXIS Inc (NASDAQ:SCYX) have been assigned a consensus recommendation of “Buy” from the ten brokerages that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $5.29.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research lowered SCYNEXIS from a “buy” rating to a “hold” rating in a research report on Tuesday, March 12th. Maxim Group reissued a “buy” rating and set a $4.00 target price on shares of SCYNEXIS in a research report on Monday, March 18th. Finally, Brookline Capital Management reissued a “buy” rating on shares of SCYNEXIS in a research report on Friday, January 4th.

Shares of NASDAQ SCYX opened at $1.51 on Tuesday. The company has a current ratio of 8.76, a quick ratio of 8.76 and a debt-to-equity ratio of 0.48. SCYNEXIS has a fifty-two week low of $0.35 and a fifty-two week high of $2.15. The stock has a market cap of $78.23 million, a PE ratio of -3.08 and a beta of 2.34.

Large investors have recently added to or reduced their stakes in the stock. Two Sigma Investments LP purchased a new position in SCYNEXIS during the 4th quarter worth approximately $80,000. Northern Trust Corp grew its stake in SCYNEXIS by 132.7% during the 2nd quarter. Northern Trust Corp now owns 116,079 shares of the company’s stock worth $190,000 after buying an additional 66,193 shares during the last quarter. Private Advisor Group LLC purchased a new position in SCYNEXIS during the 3rd quarter worth approximately $240,000. Finally, Stonepine Capital Management LLC purchased a new position in SCYNEXIS during the 3rd quarter worth approximately $539,000. Hedge funds and other institutional investors own 33.41% of the company’s stock.

About SCYNEXIS

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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Analyst Recommendations for SCYNEXIS (NASDAQ:SCYX)

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