The Scynexis Inc. (SCYX) Stock Rating Upgraded by WBB Securities

The Scynexis Inc. (SCYX) Stock Rating Upgraded by WBB Securities

Scynexis Inc. (NASDAQ:SCYX) was upgraded by WBB Securities from a “buy” rating to a “strong-buy” rating in a report issued on Friday. The firm presently has a $8.00 price objective on the stock. WBB Securities’ target price would indicate a potential upside of 65.98% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Brean Capital started coverage on Scynexis in a research report on Monday. They set a “buy” rating and a $16.00 price target for the company. Zacks Investment Research raised Scynexis from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a research report on Friday, August 26th. Guggenheim started coverage on Scynexis in a research report on Wednesday, August 17th. They set a “buy” rating and a $15.00 price target for the company. Needham & Company LLC reduced their price target on Scynexis from $16.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, August 9th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Scynexis in a research report on Thursday, June 9th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $12.18.

Shares of Scynexis (NASDAQ:SCYX) opened at 4.82 on Friday. The company’s 50 day moving average is $3.36 and its 200 day moving average is $3.19. The firm’s market capitalization is $112.90 million. Scynexis has a 12-month low of $1.74 and a 12-month high of $7.69.

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Scynexis (NASDAQ:SCYX) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by $0.04. Scynexis had a negative net margin of 12,239.31% and a negative return on equity of 73.13%. On average, analysts forecast that Scynexis will post ($2.13) earnings per share for the current year.

In related news, Director Patrick Machado acquired 40,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were bought at an average price of $2.94 per share, for a total transaction of $117,600.00. Following the purchase, the director now directly owns 60,000 shares in the company, valued at approximately $176,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 3.91% of the company’s stock.

Several large investors have recently made changes to their positions in SCYX. Jacobs Levy Equity Management Inc. bought a new stake in shares of Scynexis during the first quarter worth about $111,000. Granite Point Capital Management L.P. acquired a new stake in Scynexis during the second quarter worth $380,000. Private Advisor Group LLC boosted its stake in Scynexis by 100.0% in the second quarter. Private Advisor Group LLC now owns 200,000 shares of the company’s stock worth $434,000 after buying an additional 100,000 shares during the period. UBS Oconnor LLC acquired a new stake in Scynexis during the second quarter worth $542,000. Finally, Sabby Management LLC acquired a new stake in Scynexis during the second quarter worth $1,243,000. Institutional investors own 60.30% of the company’s stock.

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