SCYNEXIS (SCYX) Rating Lowered to Hold at Zacks Investment Research

SCYNEXIS (NASDAQ:SCYX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “SCYNEXIS, Inc. is a pharmaceutical company. It is engaged in the discovery, development, and commercialization of anti-infectives to address unmet therapeutic needs. The Company is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of serious and life-threatening invasive fungal infections in humans. It also provides contract research and development services. SCYNEXIS, Inc. is headquartered in Durham, North Carolina. “

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A number of other equities research analysts also recently weighed in on the company. Brookline Capital Management reaffirmed a “buy” rating on shares of SCYNEXIS in a research report on Friday, January 4th. ValuEngine downgraded SCYNEXIS from a “buy” rating to a “hold” rating in a research report on Tuesday, December 25th. Maxim Group set a $4.00 price objective on SCYNEXIS and gave the company a “buy” rating in a research report on Tuesday, November 13th. Finally, HC Wainwright set a $5.00 price objective on SCYNEXIS and gave the company a “buy” rating in a research report on Tuesday, October 23rd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $4.78.

Shares of SCYX stock opened at $1.16 on Friday. SCYNEXIS has a 1-year low of $0.35 and a 1-year high of $2.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.53 and a quick ratio of 4.53.

SCYNEXIS (NASDAQ:SCYX) last issued its quarterly earnings data on Tuesday, November 13th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.18. SCYNEXIS had a negative return on equity of 102.52% and a negative net margin of 8,592.97%. The company had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.06 million. On average, analysts forecast that SCYNEXIS will post -0.51 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC acquired a new stake in SCYNEXIS in the second quarter worth about $190,000. Northern Trust Corp boosted its holdings in SCYNEXIS by 132.7% in the second quarter. Northern Trust Corp now owns 116,079 shares of the company’s stock worth $190,000 after acquiring an additional 66,193 shares in the last quarter. BlackRock Inc. boosted its holdings in SCYNEXIS by 61.5% in the second quarter. BlackRock Inc. now owns 180,751 shares of the company’s stock worth $296,000 after acquiring an additional 68,830 shares in the last quarter. Private Advisor Group LLC acquired a new stake in SCYNEXIS in the third quarter worth about $240,000. Finally, Stonepine Capital Management LLC acquired a new stake in SCYNEXIS in the third quarter worth about $539,000. 41.53% of the stock is 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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