SCYNEXIS (NASDAQ:SCYX) Rating Increased to Hold at ValuEngine

SCYNEXIS (NASDAQ:SCYX) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Wednesday, ValuEngine reports.

Other equities research analysts have also recently issued research reports about the company. Brookline Capital Management reissued a “buy” rating on shares of SCYNEXIS in a research note on Monday, August 19th. Needham & Company LLC restated a “buy” rating and issued a $5.00 price objective on shares of SCYNEXIS in a report on Thursday, November 7th. Finally, 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. SCYNEXIS presently has an average rating of “Buy” and a consensus price target of $4.13.

SCYX opened at $0.98 on Wednesday. SCYNEXIS has a fifty-two week low of $0.35 and a fifty-two week high of $1.90. The business has a 50-day moving average of $1.13 and a 200-day moving average of $1.16. The company has a debt-to-equity ratio of 2.60, a current ratio of 3.58 and a quick ratio of 3.58. The company has a market capitalization of $57.06 million, a PE ratio of -1.99 and a beta of 2.23.

Several hedge funds have recently added to or reduced their stakes in SCYX. Millennium Management LLC bought a new stake in SCYNEXIS in the third quarter worth $76,000. Virtu Financial LLC acquired a new stake in shares of SCYNEXIS in the third quarter worth about $97,000. Creative Planning boosted its stake in shares of SCYNEXIS by 11.3% during the 3rd quarter. Creative Planning now owns 154,700 shares of the company’s stock worth $165,000 after acquiring an additional 15,700 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of SCYNEXIS by 86.1% during the 2nd quarter. Renaissance Technologies LLC now owns 475,315 shares of the company’s stock worth $623,000 after acquiring an additional 219,900 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of SCYNEXIS by 152.0% during the 2nd quarter. BlackRock Inc. now owns 854,880 shares of the company’s stock worth $1,121,000 after acquiring an additional 515,707 shares in the last quarter. 31.84% of the stock is owned by institutional investors and hedge funds.

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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