SCYNEXIS, Inc. (SCYX) Given Consensus Recommendation of “Buy” by Analysts
SCYNEXIS, Inc. (NASDAQ:SCYX) has earned an average rating of “Buy” from the ten ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $12.08.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of SCYNEXIS from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. ValuEngine upgraded shares of SCYNEXIS from a “strong sell” rating to a “sell” rating in a research report on Friday. Roth Capital assumed coverage on shares of SCYNEXIS in a research report on Monday, July 10th. They issued a “buy” rating and a $8.50 price target on the stock. Aegis restated a “buy” rating on shares of SCYNEXIS in a research report on Tuesday, May 30th. Finally, Needham & Company LLC downgraded shares of SCYNEXIS from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th.
In other news, Director David C. Hastings acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The shares were acquired at an average price of $1.75 per share, with a total value of $35,000.00. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at $35,000. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marco Taglietti acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was purchased at an average cost of $1.69 per share, for a total transaction of $42,250.00. Following the acquisition, the chief executive officer now owns 277,000 shares in the company, valued at $468,130. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 60,000 shares of company stock worth $102,750. Corporate insiders own 3.91% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Iguana Healthcare Management LLC boosted its stake in SCYNEXIS by 20.0% in the first quarter. Iguana Healthcare Management LLC now owns 300,000 shares of the company’s stock worth $828,000 after buying an additional 50,000 shares during the period. KCG Holdings Inc. purchased a new stake in SCYNEXIS during the first quarter worth $416,000. Dynamic Technology Lab Private Ltd purchased a new stake in SCYNEXIS during the first quarter worth $154,000. Private Advisor Group LLC purchased a new stake in SCYNEXIS during the first quarter worth $555,000. Finally, Bank of New York Mellon Corp boosted its stake in SCYNEXIS by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 37,523 shares of the company’s stock worth $103,000 after buying an additional 512 shares during the period. 46.22% of the stock is currently owned by institutional investors and hedge funds.
SCYNEXIS (NASDAQ SCYX) traded up 0.54% on Tuesday, reaching $1.87. 130,195 shares of the company’s stock were exchanged. The firm’s market capitalization is $48.24 million. The stock’s 50 day moving average price is $1.71 and its 200 day moving average price is $2.69. SCYNEXIS has a 1-year low of $1.55 and a 1-year high of $5.51.
COPYRIGHT VIOLATION WARNING: “SCYNEXIS, Inc. (SCYX) Given Consensus Recommendation of “Buy” by Analysts” was first posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://www.americanbankingnews.com/2017/07/18/scynexis-inc-scyx-given-consensus-recommendation-of-buy-by-analysts.html.
SCYNEXIS Company Profile
SCYNEXIS, Inc is engaged in the discovery, development and commercialization of anti-infectives. The Company is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of several fungal infections, including serious invasive fungal infections. SCY-078 is a structurally distinct glucan synthase inhibitor that has been shown to be effective in vitro and in vivo in animal studies against a range of Candida and Aspergillus species, including drug-resistant strains.
Receive News & Ratings for SCYNEXIS Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SCYNEXIS Inc. and related companies with MarketBeat.com's FREE daily email newsletter.