SCYNEXIS Inc (NASDAQ:SCYX) has received a consensus recommendation of “Buy” from the eight ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $10.00.
Several equities analysts have recently weighed in on SCYX shares. Zacks Investment Research upgraded SCYNEXIS from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a report on Tuesday, November 14th. Guggenheim started coverage on SCYNEXIS in a report on Tuesday, October 24th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, ValuEngine upgraded SCYNEXIS from a “strong sell” rating to a “sell” rating in a report on Saturday, December 9th.
A number of large investors have recently modified their holdings of SCYX. National Asset Management Inc. acquired a new stake in SCYNEXIS in the 2nd quarter valued at about $551,000. DAFNA Capital Management LLC lifted its stake in SCYNEXIS by 32.7% in the 2nd quarter. DAFNA Capital Management LLC now owns 506,900 shares of the company’s stock valued at $907,000 after purchasing an additional 125,000 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in SCYNEXIS in the 3rd quarter valued at about $264,000. Vanguard Group Inc. lifted its stake in SCYNEXIS by 6.0% in the 2nd quarter. Vanguard Group Inc. now owns 868,394 shares of the company’s stock valued at $1,554,000 after purchasing an additional 48,978 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its stake in SCYNEXIS by 33.7% in the 2nd 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. Institutional investors and hedge funds own 30.90% of the company’s stock.
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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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