SCYNEXIS (NASDAQ:SCYX) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of SCYNEXIS (NASDAQ:SCYX) from a hold rating to a strong-buy rating in a research report report published on Saturday morning.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of SCYNEXIS in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.00.

SCYNEXIS Stock Up 0.9%

Shares of SCYX opened at $0.80 on Friday. The stock has a market cap of $35.73 million, a P/E ratio of -4.71 and a beta of 1.33. The business’s 50 day moving average price is $0.72 and its 200-day moving average price is $0.75. 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 data on Wednesday, March 4th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). The company had revenue of $17.20 million for the quarter, compared to the consensus estimate of $8.10 million. SCYNEXIS had a negative net margin of 41.79% and a negative return on equity of 25.52%.

Institutional Investors Weigh In On SCYNEXIS

A number of institutional investors have recently made changes to their positions in SCYX. Jane Street Group LLC purchased a new stake in shares of SCYNEXIS during the second quarter valued at approximately $27,000. Bridgeway Capital Management LLC raised its holdings in SCYNEXIS by 4.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock worth $248,000 after acquiring an additional 14,689 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in SCYNEXIS in the 3rd quarter worth approximately $41,000. Vanguard Group Inc. lifted its position in SCYNEXIS by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock valued at $1,357,000 after acquiring an additional 105,600 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in SCYNEXIS by 95.2% during the 3rd quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock valued at $80,000 after purchasing an additional 50,916 shares during the last quarter. Hedge funds and other institutional investors 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.