SCYNEXIS, Inc. (SCYX) Given a $14.00 Price Target by HC Wainwright Analysts
SCYNEXIS, Inc. (NASDAQ:SCYX) received a $14.00 target price from equities research analysts at HC Wainwright in a research note issued on Wednesday. The brokerage currently has a “buy” rating on the stock.
A number of other equities research analysts also recently commented on SCYX. Roth Capital set a $9.00 price target on shares of SCYNEXIS and gave the stock a “buy” rating in a report on Monday, August 7th. Zacks Investment Research downgraded shares of SCYNEXIS from a “buy” rating to a “hold” rating in a report on Thursday, June 8th. ValuEngine upgraded shares of SCYNEXIS from a “strong sell” rating to a “sell” rating in a report on Friday, July 14th. Aegis reiterated a “buy” rating on shares of SCYNEXIS in a report on Tuesday, May 30th. Finally, Needham & Company LLC downgraded shares of SCYNEXIS from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $10.22.
SCYNEXIS (NASDAQ:SCYX) opened at 1.66 on Wednesday. The firm has a 50-day moving average of $1.76 and a 200 day moving average of $2.32. The firm’s market capitalization is $42.82 million. SCYNEXIS has a 12-month low of $1.52 and a 12-month high of $5.51.
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In related news, Director David C. Hastings bought 20,000 shares of the stock in a transaction that occurred on Wednesday, June 21st. The stock was purchased at an average cost of $1.75 per share, for a total transaction of $35,000.00. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at $35,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.91% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in SCYX. Bank of New York Mellon Corp increased 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 last quarter. Jacobs Levy Equity Management Inc. bought a new stake in SCYNEXIS during the first quarter worth about $111,000. Dynamic Technology Lab Private Ltd bought a new stake in SCYNEXIS during the first quarter worth about $154,000. GSA Capital Partners LLP increased its stake in SCYNEXIS by 33.7% in the second quarter. GSA Capital Partners LLP now owns 176,700 shares of the company’s stock worth $316,000 after buying an additional 44,500 shares during the last quarter. Finally, Granite Point Capital Management L.P. bought a new stake in SCYNEXIS during the second quarter worth about $380,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.
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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