Seaport Global Securities Comments on Scynexis’ Q2 2018 Earnings (SCYX)

Scynexis (NASDAQ:SCYX) – Research analysts at Seaport Global Securities raised their Q2 2018 earnings estimates for shares of Scynexis in a note issued to investors on Tuesday, May 15th. Seaport Global Securities analyst C. Davis now expects that the company will post earnings per share of ($0.16) for the quarter, up from their prior estimate of ($0.17). Seaport Global Securities currently has a “Buy” rating and a $4.00 price target on the stock. Seaport Global Securities also issued estimates for Scynexis’ Q3 2018 earnings at ($0.20) EPS, Q4 2018 earnings at ($0.24) EPS, FY2018 earnings at ($0.71) EPS, FY2019 earnings at ($0.67) EPS, FY2020 earnings at ($0.70) EPS, FY2021 earnings at ($0.76) EPS and FY2022 earnings at ($0.12) EPS.

Scynexis (NASDAQ:SCYX) last posted its quarterly earnings results on Tuesday, May 8th. The company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.06. The firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.10 million. Scynexis had a negative return on equity of 78.78% and a negative net margin of 9,450.00%.

SCYX has been the topic of a number of other reports. Roth Capital assumed coverage on Scynexis in a report on Tuesday, May 8th. They set a “buy” rating and a $6.00 target price on the stock. Zacks Investment Research raised Scynexis from a “hold” rating to a “buy” rating and set a $1.25 target price on the stock in a report on Tuesday, May 8th. HC Wainwright assumed coverage on Scynexis in a report on Monday, May 7th. They set a “buy” rating and a $5.00 target price on the stock. Finally, ValuEngine raised Scynexis from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Scynexis has a consensus rating of “Buy” and a consensus target price of $4.45.

Scynexis opened at $1.42 on Friday, Marketbeat reports. The company has a current ratio of 5.93, a quick ratio of 5.93 and a debt-to-equity ratio of 0.30. The company has a market cap of $61.83 million, a price-to-earnings ratio of -1.41 and a beta of 0.27. Scynexis has a twelve month low of $1.31 and a twelve month high of $1.33.

In other Scynexis news, CEO Marco Taglietti bought 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were acquired at an average cost of $1.69 per share, with a total value of $169,000.00. Following the acquisition, the chief executive officer now owns 404,000 shares of the company’s stock, valued at $682,760. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 141,500 shares of company stock worth $237,155 over the last three months. 4.00% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of SCYX. Dimensional Fund Advisors LP acquired a new position in Scynexis in the 3rd quarter valued at $264,000. Federated Investors Inc. PA grew its holdings in Scynexis by 63.2% in the 1st quarter. Federated Investors Inc. PA now owns 6,868,400 shares of the company’s stock valued at $9,204,000 after buying an additional 2,660,000 shares in the last quarter. CVI Holdings LLC acquired a new position in Scynexis in the 1st quarter valued at $1,746,000. Rock Springs Capital Management LP grew its holdings in Scynexis by 7.9% in the 1st quarter. Rock Springs Capital Management LP now owns 820,000 shares of the company’s stock valued at $1,099,000 after buying an additional 60,000 shares in the last quarter. Finally, DAFNA Capital Management LLC grew its holdings in Scynexis by 222.9% in the 1st quarter. DAFNA Capital Management LLC now owns 1,636,900 shares of the company’s stock valued at $2,193,000 after buying an additional 1,130,000 shares in the last quarter. 18.50% of the stock is currently owned by institutional investors and hedge funds.

About Scynexis

SCYNEXIS, Inc, a drug development company, develops and commercializes anti-infectives to address unmet therapeutic needs. It is developing its lead product candidate, SCY-078, as a novel oral and intravenous drug for the treatment of various fungal infections, including serious and life-threatening invasive fungal infections.

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