SCYNEXIS (NASDAQ:SCYX) Downgraded by ValuEngine to “Sell”

SCYNEXIS (NASDAQ:SCYX) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, January 8th, ValuEngine reports.

Several other equities research analysts have also recently issued reports on SCYX. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price objective on shares of SCYNEXIS in a research report on Thursday, November 7th. Zacks Investment Research upgraded SCYNEXIS from a “hold” rating to a “buy” rating and set a $1.00 price target on the stock in a research note on Wednesday, January 8th. LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $6.00 price objective on shares of SCYNEXIS in a research report on Tuesday, November 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $3.50 price objective on shares of SCYNEXIS in a report on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. SCYNEXIS presently has an average rating of “Buy” and an average target price of $3.95.

SCYNEXIS stock opened at $1.07 on Wednesday. The firm has a market cap of $57.20 million, a PE ratio of -2.18 and a beta of 2.16. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 2.60. SCYNEXIS has a 52-week low of $0.67 and a 52-week high of $1.90. The company’s 50 day moving average is $0.90 and its two-hundred day moving average is $1.08.

SCYNEXIS (NASDAQ:SCYX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. SCYNEXIS had a negative net margin of 11,653.81% and a negative return on equity of 230.55%. On average, equities research analysts anticipate that SCYNEXIS will post -0.65 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in SCYNEXIS by 47.7% in the second quarter. Vanguard Group Inc. now owns 2,373,737 shares of the company’s stock valued at $3,110,000 after acquiring an additional 766,865 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of SCYNEXIS by 152.0% in the 2nd quarter. BlackRock Inc. now owns 854,880 shares of the company’s stock valued at $1,121,000 after purchasing an additional 515,707 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of SCYNEXIS by 86.1% in the second quarter. Renaissance Technologies LLC now owns 475,315 shares of the company’s stock valued at $623,000 after acquiring an additional 219,900 shares during the period. Creative Planning boosted its holdings in shares of SCYNEXIS by 11.3% in the third quarter. Creative Planning now owns 154,700 shares of the company’s stock valued at $165,000 after acquiring an additional 15,700 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of SCYNEXIS during the third quarter worth approximately $97,000. Hedge funds and other institutional investors own 32.00% of the company’s stock.

SCYNEXIS Company Profile

SCYNEXIS, Inc is a biotechnology company, which engages in the development of novel oral and intravenous triterpenoid antifungal for the treatment of several serious fungal infections, including vulvovaginal candidiasis, invasive aspergillosis, invasive candidiasis, and refractory invasive fungal infections.

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Analyst Recommendations for SCYNEXIS (NASDAQ:SCYX)

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