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.

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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.

Analyst Recommendations for SCYNEXIS (NASDAQ:SCYX)

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