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

Wall Street Zen upgraded shares of SCYNEXIS (NASDAQ:SCYX) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

Several other analysts have also weighed in on SCYX. Weiss Ratings reissued a “sell (d-)” rating on shares of SCYNEXIS in a report on Monday, December 29th. reaffirmed a “buy” rating on shares of SCYNEXIS in a research report on Monday, March 9th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.00.

SCYNEXIS Price Performance

NASDAQ SCYX opened at $0.92 on Tuesday. The company’s fifty day moving average is $0.80 and its two-hundred day moving average is $0.75. The firm has a market capitalization of $40.95 million, a price-to-earnings ratio of -5.39 and a beta of 1.32. SCYNEXIS has a 52-week low of $0.57 and a 52-week high of $1.31.

SCYNEXIS (NASDAQ:SCYX) last released its 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 net margin of 41.79% and a negative return on equity of 25.52%. The company had revenue of $17.20 million during the quarter, compared to the consensus estimate of $8.10 million.

Hedge Funds Weigh In On SCYNEXIS

A number of hedge funds have recently modified their holdings of SCYX. Jane Street Group LLC acquired a new stake in SCYNEXIS in the 2nd quarter valued at $27,000. Sequoia Financial Advisors LLC bought a new position in shares of SCYNEXIS during the third quarter valued at $41,000. GSA Capital Partners LLP boosted its stake in shares of 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 purchasing an additional 50,916 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of SCYNEXIS by 4.2% in 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. Finally, Geode Capital Management LLC grew its holdings in shares of SCYNEXIS by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock worth $284,000 after purchasing an additional 29,775 shares during the last quarter. 54.37% of the stock is owned by institutional investors and hedge funds.

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.