Roth Capital Analysts Give SCYNEXIS Inc (NASDAQ:SCYX) a $9.00 Price Target
SCYNEXIS Inc (NASDAQ:SCYX) has been given a $9.00 price target by Roth Capital in a report released on Monday. The firm presently has a “buy” rating on the stock. Roth Capital’s price objective suggests a potential upside of 462.50% from the company’s current price.
Other analysts also recently issued research reports about the company. HC Wainwright set a $14.00 target price on SCYNEXIS and gave the stock a “buy” rating in a research report on Saturday, April 15th. ValuEngine upgraded SCYNEXIS from a “strong sell” rating to a “sell” rating in a research report on Friday, July 14th. Zacks Investment Research downgraded SCYNEXIS from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Needham & Company LLC downgraded SCYNEXIS from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Finally, Aegis restated a “buy” rating on shares of SCYNEXIS in a research report on Tuesday, May 30th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $10.22.
SCYNEXIS (NASDAQ:SCYX) traded down 1.23% on Monday, hitting $1.60. The stock had a trading volume of 160,364 shares. The company has a 50-day moving average price of $1.81 and a 200-day moving average price of $2.43. The stock’s market capitalization is $41.28 million. SCYNEXIS has a 1-year low of $1.55 and a 1-year high of $5.51.
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In related news, insider Gonzalez David Angulo acquired 15,000 shares of the stock in a transaction on Friday, May 12th. The stock was purchased at an average price of $1.70 per share, for a total transaction of $25,500.00. Following the completion of the transaction, the insider now owns 62,000 shares of the company’s stock, valued at approximately $105,400. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Marco Taglietti acquired 25,000 shares of the stock in a transaction on Friday, May 12th. The stock was bought at an average price of $1.69 per share, with a total value of $42,250.00. Following the transaction, the chief executive officer now directly owns 277,000 shares of the company’s stock, valued at approximately $468,130. The disclosure for this purchase can be found here. Insiders acquired 60,000 shares of company stock valued at $102,750 in the last quarter. Corporate insiders own 3.91% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Jennison Associates boosted its position in SCYNEXIS by 0.3% in the third quarter. Jennison Associates now owns 598,371 shares of the company’s stock valued at $4,356,000 after buying an additional 1,864 shares during the period. Visium Asset Management LP boosted its position in SCYNEXIS by 80.8% in the fourth quarter. Visium Asset Management LP now owns 325,389 shares of the company’s stock valued at $2,021,000 after buying an additional 145,389 shares during the period. Rock Springs Capital Management LP boosted its position in SCYNEXIS by 35.1% in the fourth quarter. Rock Springs Capital Management LP now owns 635,000 shares of the company’s stock valued at $3,943,000 after buying an additional 165,000 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in SCYNEXIS during the first quarter valued at about $111,000. Finally, Deerfield Management Co. boosted its position in SCYNEXIS by 21.8% in the first quarter. Deerfield Management Co. now owns 848,000 shares of the company’s stock valued at $3,417,000 after buying an additional 151,719 shares during the period. 46.26% of the stock is currently owned by hedge funds and other institutional investors.
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.
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