SCYNEXIS (NASDAQ:SCYX) Releases Earnings Results, Beats Estimates By $0.01 EPS

SCYNEXIS (NASDAQ:SCYX) released its quarterly earnings results on Thursday. The company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.01, FiscalAI reports. The firm had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $0.13 million.

SCYNEXIS Stock Up 6.1%

SCYX stock opened at $3.50 on Friday. SCYNEXIS has a 52-week low of $3.28 and a 52-week high of $9.12. The stock’s 50 day moving average is $4.39 and its two-hundred day moving average is $5.48. The company has a market capitalization of $34.83 million, a PE ratio of -2.43 and a beta of 1.15.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SCYX. Brookline Capital Markets restated a “buy” rating on shares of SCYNEXIS in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SCYNEXIS in a report on Thursday, October 22nd. Wall Street Zen downgraded SCYNEXIS from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Guggenheim reaffirmed a “buy” rating and set a $33.00 price target (up from $24.00) on shares of SCYNEXIS in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.00.

About SCYNEXIS

SCYNEXIS, Inc is a biotechnology company focused on developing and commercializing innovative antifungal therapies for the treatment of serious and common fungal infections. The company’s research platform is centered on ibrexafungerp, a novel triterpenoid antifungal designed to inhibit glucan synthase, an enzyme important to the formation of fungal cell walls.

SCYNEXIS’s lead product, BREXAFEMME (ibrexafungerp tablets), is an oral antifungal approved in the United States for the treatment of vaginal yeast infections, also known as vulvovaginal candidiasis.