SCYNEXIS (NASDAQ:SCYX) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of SCYNEXIS (NASDAQ:SCYX) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday.

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

SCYNEXIS Price Performance

Shares of SCYNEXIS stock opened at $0.86 on Friday. The stock has a market cap of $38.35 million, a price-to-earnings ratio of -5.05 and a beta of 1.32. The firm’s 50-day moving average is $0.75 and its two-hundred day moving average is $0.75. SCYNEXIS has a 1 year low of $0.57 and a 1 year high of $1.31.

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

Hedge Funds Weigh In On SCYNEXIS

Several institutional investors and hedge funds have recently modified their holdings of SCYX. Goldman Sachs Group Inc. purchased a new stake in shares of SCYNEXIS in the fourth quarter worth about $1,255,000. Vanguard Group Inc. raised its position in SCYNEXIS by 6.4% during the third 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. Geode Capital Management LLC raised its position in SCYNEXIS by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock valued at $284,000 after acquiring an additional 29,775 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in SCYNEXIS by 4.2% in the second quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock valued at $248,000 after acquiring an additional 14,689 shares during the period. Finally, GSA Capital Partners LLP lifted 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 valued at $80,000 after acquiring an additional 50,916 shares during the period. 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.