Wall Street Zen Upgrades SCYNEXIS (NASDAQ:SCYX) to Strong-Buy

SCYNEXIS (NASDAQ:SCYX) was upgraded by Wall Street Zen from a “hold” rating to a “strong-buy” rating in a research note issued on Saturday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of SCYNEXIS in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.00.

SCYNEXIS Trading Up 0.9%

Shares of SCYX stock opened at $0.80 on Friday. SCYNEXIS has a 12 month low of $0.57 and a 12 month high of $1.31. The stock has a market cap of $35.73 million, a PE ratio of -4.71 and a beta of 1.32. The company’s fifty day moving average price is $0.72 and its 200-day moving average price is $0.75.

SCYNEXIS (NASDAQ:SCYX) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.04). SCYNEXIS had a negative return on equity of 25.52% and a negative net margin of 41.79%.The business had revenue of $17.20 million during the quarter, compared to the consensus estimate of $8.10 million.

Hedge Funds Weigh In On SCYNEXIS

Several institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in SCYNEXIS in the 2nd quarter worth about $27,000. Bridgeway Capital Management LLC increased its stake in SCYNEXIS by 4.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock valued at $248,000 after purchasing an additional 14,689 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in SCYNEXIS during the 3rd quarter valued at about $41,000. Vanguard Group Inc. raised its holdings in SCYNEXIS by 6.4% in the third quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock worth $1,357,000 after buying an additional 105,600 shares during the last quarter. Finally, GSA Capital Partners LLP raised its holdings in SCYNEXIS by 95.2% in the third quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock worth $80,000 after buying an additional 50,916 shares during the last quarter. 54.37% of the stock is currently owned by institutional investors.

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.