Shares of SCYNEXIS, Inc. (NASDAQ:SCYX) have earned a consensus recommendation of “Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $10.00.

A number of analysts recently commented on SCYX shares. ValuEngine cut SCYNEXIS from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Guggenheim assumed coverage on SCYNEXIS in a research note on Tuesday, October 24th. They issued a “buy” rating and a $6.00 price objective on the stock. Finally, Zacks Investment Research raised SCYNEXIS from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a research report on Tuesday, August 29th.

Shares of SCYNEXIS (NASDAQ SCYX) traded down $0.04 during mid-day trading on Friday, hitting $2.22. The stock had a trading volume of 265,300 shares, compared to its average volume of 332,901. SCYNEXIS has a twelve month low of $1.52 and a twelve month high of $3.82. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.30 and a quick ratio of 7.30.

A number of hedge funds have recently made changes to their positions in SCYX. Federated Investors Inc. PA boosted its position in SCYNEXIS by 23.5% during the 2nd quarter. Federated Investors Inc. PA now owns 4,208,400 shares of the company’s stock worth $7,533,000 after acquiring an additional 800,040 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of SCYNEXIS by 33.7% during the second quarter. GSA Capital Partners LLP now owns 176,700 shares of the company’s stock valued at $316,000 after purchasing an additional 44,500 shares during the last quarter. Vanguard Group Inc. raised its position in SCYNEXIS by 6.0% during the second quarter. Vanguard Group Inc. now owns 868,394 shares of the company’s stock valued at $1,554,000 after buying an additional 48,978 shares during the period. DAFNA Capital Management LLC raised its position in SCYNEXIS by 32.7% during the second quarter. DAFNA Capital Management LLC now owns 506,900 shares of the company’s stock valued at $907,000 after buying an additional 125,000 shares during the period. Finally, National Asset Management Inc. acquired a new position in SCYNEXIS during the second quarter valued at $551,000. Institutional investors own 31.27% of the company’s stock.

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About SCYNEXIS

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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