SCYNEXIS (NASDAQ:SCYX) Lowered to “Buy” Rating by Wall Street Zen

SCYNEXIS (NASDAQ:SCYX) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Several other research firms have also recently weighed in on SCYX. Weiss Ratings reissued a “sell (d-)” rating on shares of SCYNEXIS in a research note on Monday, December 29th. Brookline Capital Acquisition reiterated a “buy” rating on shares of SCYNEXIS in a research note on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.00.

SCYNEXIS Stock Performance

Shares of NASDAQ SCYX opened at $0.86 on Friday. The stock has a 50 day moving average price of $0.75 and a 200 day moving average price of $0.76. The stock has a market capitalization of $38.35 million, a PE ratio of -5.05 and a beta of 1.33. SCYNEXIS has a 52 week low of $0.57 and a 52 week high of $1.31.

SCYNEXIS (NASDAQ:SCYX) last posted its quarterly earnings results on Wednesday, March 4th. The company reported $0.25 earnings per share 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 company had revenue of $17.20 million for the quarter, compared to analyst estimates of $8.10 million.

Institutional Investors Weigh In On SCYNEXIS

Several hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new position in shares of SCYNEXIS in the second quarter valued at $27,000. Bridgeway Capital Management LLC lifted its stake in shares of SCYNEXIS by 4.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock worth $248,000 after buying an additional 14,689 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of SCYNEXIS during the 3rd quarter worth about $41,000. Vanguard Group Inc. boosted its holdings in shares of SCYNEXIS by 6.4% during the 3rd 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 period. Finally, GSA Capital Partners LLP grew its stake in SCYNEXIS by 95.2% in the 3rd quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock valued at $80,000 after buying an additional 50,916 shares during the last quarter. 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.