Wall Street Zen Upgrades SCYNEXIS (NASDAQ:SCYX) to “Buy”
by Michael Walen · The Markets DailySCYNEXIS (NASDAQ:SCYX – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Tuesday.
SCYX has been the subject of several other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SCYNEXIS in a research report on Monday, December 29th. reissued a “buy” rating on shares of SCYNEXIS in a report on Monday, March 9th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.00.
View Our Latest Stock Report on SCYNEXIS
SCYNEXIS Stock Down 3.1%
Shares of SCYX opened at $0.89 on Tuesday. The stock’s 50-day moving average price is $0.81 and its 200 day moving average price is $0.75. The firm has a market capitalization of $39.67 million, a price-to-earnings ratio of -5.22 and a beta of 1.15. SCYNEXIS has a 12-month low of $0.57 and a 12-month high of $1.31.
SCYNEXIS (NASDAQ:SCYX – Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $17.20 million during the quarter, compared to the consensus estimate of $8.10 million.
Hedge Funds Weigh In On SCYNEXIS
Hedge funds have recently modified their holdings of the stock. Bridgeway Capital Management LLC boosted its stake in 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 buying an additional 14,689 shares in the last quarter. Geode Capital Management LLC raised its stake in SCYNEXIS by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock worth $284,000 after acquiring an additional 29,775 shares in the last quarter. Jane Street Group LLC acquired a new position in SCYNEXIS during the second quarter worth $27,000. GSA Capital Partners LLP lifted its holdings in shares of SCYNEXIS by 95.2% during 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. Finally, Sequoia Financial Advisors LLC bought a new position in shares of SCYNEXIS during the third quarter valued at $41,000. 54.37% of the stock is owned by institutional investors and hedge funds.
About SCYNEXIS
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.