SCYNEXIS Inc (NASDAQ:SCYX) Receives $4.80 Average Target Price from Brokerages

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SCYNEXIS Inc (NASDAQ:SCYX) has been given a consensus recommendation of “Buy” by the eight research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $4.80.

Several analysts have recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of SCYNEXIS in a research note on Tuesday, April 16th. Zacks Investment Research lowered shares of SCYNEXIS from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. ValuEngine lowered shares of SCYNEXIS from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Maxim Group reiterated a “buy” rating and issued a $4.00 price objective on shares of SCYNEXIS in a research note on Monday, March 18th. Finally, LADENBURG THALM/SH SH set a $6.00 price objective on shares of SCYNEXIS and gave the company a “buy” rating in a research note on Friday, May 24th.

In related news, CEO Marco Taglietti acquired 25,000 shares of the stock in a transaction dated Wednesday, April 17th. The stock was bought at an average price of $1.63 per share, for a total transaction of $40,750.00. Following the purchase, the chief executive officer now directly owns 506,000 shares of the company’s stock, valued at approximately $824,780. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.56% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. acquired a new stake in SCYNEXIS in the 1st quarter valued at $56,000. Creative Planning grew its position in SCYNEXIS by 153.5% in the 1st quarter. Creative Planning now owns 127,176 shares of the company’s stock valued at $192,000 after purchasing an additional 77,000 shares during the period. Bailard Inc. acquired a new stake in SCYNEXIS in the 1st quarter valued at $196,000. Two Sigma Investments LP acquired a new stake in SCYNEXIS in the 4th quarter valued at $80,000. Finally, Deutsche Bank AG acquired a new stake in SCYNEXIS in the 4th quarter valued at $121,000. 30.66% of the stock is owned by institutional investors and hedge funds.

SCYNEXIS stock traded up $0.01 during mid-day trading on Friday, hitting $1.16. 207,843 shares of the stock were exchanged, compared to its average volume of 982,533. The firm has a market cap of $61.70 million, a price-to-earnings ratio of -2.33 and a beta of 2.40. The company has a debt-to-equity ratio of 1.91, a quick ratio of 8.64 and a current ratio of 8.64. SCYNEXIS has a 12 month low of $0.35 and a 12 month high of $2.15.

SCYNEXIS (NASDAQ:SCYX) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.04). The company had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.09 million. SCYNEXIS had a negative net margin of 12,254.69% and a negative return on equity of 127.47%. As a group, equities research analysts predict that SCYNEXIS will post -0.89 EPS for the current fiscal year.

About SCYNEXIS

SCYNEXIS, Inc is a biotechnology company, which engages in the development of novel oral and intravenous triterpenoid antifungal for the treatment of several serious fungal infections, including vulvovaginal candidiasis, invasive aspergillosis, invasive candidiasis, and refractory invasive fungal infections.

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Analyst Recommendations for SCYNEXIS (NASDAQ:SCYX)

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