SCYNEXIS, Inc. Expected to Earn FY2023 Earnings of $2.29 Per Share (NASDAQ:SCYX)

SCYNEXIS, Inc. (NASDAQ:SCYX) – Research analysts at Brookline Capital Management cut their FY2023 earnings estimates for shares of SCYNEXIS in a note issued to investors on Monday, November 13th. Brookline Capital Management analyst K. Dolliver now expects that the company will post earnings per share of $2.29 for the year, down from their prior estimate of $2.65. The consensus estimate for SCYNEXIS’s current full-year earnings is $2.65 per share. Brookline Capital Management also issued estimates for SCYNEXIS’s FY2024 earnings at ($0.52) EPS.

SCYNEXIS (NASDAQ:SCYX) last announced its quarterly earnings data on Monday, August 14th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $1.43. The business had revenue of $131.45 million during the quarter, compared to the consensus estimate of $91.50 million. SCYNEXIS had a net margin of 53.14% and a return on equity of 425.97%.

Several other analysts also recently issued reports on the stock. StockNews.com downgraded shares of SCYNEXIS from a “buy” rating to a “hold” rating in a research note on Wednesday. TheStreet raised shares of SCYNEXIS from a “d-” rating to a “c+” rating in a research note on Wednesday, August 23rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 price objective on shares of SCYNEXIS in a research note on Tuesday, August 15th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, SCYNEXIS has a consensus rating of “Moderate Buy” and an average price target of $12.25.

SCYNEXIS Stock Down 4.8 %

Shares of NASDAQ SCYX opened at $1.58 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 9.01 and a quick ratio of 8.37. The company has a market cap of $58.74 million, a P/E ratio of 1.11 and a beta of 2.24. SCYNEXIS has a 1 year low of $1.15 and a 1 year high of $3.87. The firm has a 50-day simple moving average of $2.26 and a two-hundred day simple moving average of $2.67.

Hedge Funds Weigh In On SCYNEXIS

A number of institutional investors have recently modified their holdings of SCYX. Stonepine Capital Management LLC increased its position in shares of SCYNEXIS by 554.7% during the second quarter. Stonepine Capital Management LLC now owns 2,946,346 shares of the company’s stock worth $8,692,000 after acquiring an additional 2,496,346 shares during the period. Acadian Asset Management LLC purchased a new position in SCYNEXIS during the third quarter valued at approximately $673,000. Vanguard Group Inc. increased its holdings in SCYNEXIS by 27.6% during the third quarter. Vanguard Group Inc. now owns 1,321,973 shares of the company’s stock valued at $3,173,000 after buying an additional 285,834 shares during the period. AMH Equity Ltd purchased a new position in SCYNEXIS during the first quarter valued at approximately $750,000. Finally, Walleye Capital LLC increased its holdings in SCYNEXIS by 2,256.5% during the second quarter. Walleye Capital LLC now owns 235,653 shares of the company’s stock valued at $695,000 after buying an additional 225,653 shares during the period. 49.87% of the stock is owned by hedge funds and other institutional investors.

About SCYNEXIS

SCYNEXIS, Inc, a biotechnology company, develops products for the treatment of fungal infections in the United States. It offers BREXAFEMME for the treatment of vulvovaginal candidiasis (VVC) and recurrent VVC. The company's lead product candidate is Ibrexafungerp, an intravenous drug for the treatment of various fungal infections, including invasive candidiasis, refractory invasive fungal infections, invasive aspergillosis, VVC, and recurrent VVC.