ValuEngine Upgrades SCYNEXIS (NASDAQ:SCYX) to Hold

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

SCYX has been the topic of a number of other reports. Brookline Capital Management reaffirmed a “buy” rating on shares of SCYNEXIS in a research report on Monday, August 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 target price on shares of SCYNEXIS in a research report on Thursday, November 7th. Finally, LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $6.00 target price on shares of SCYNEXIS in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. SCYNEXIS presently has an average rating of “Buy” and an average price target of $4.13.

NASDAQ SCYX traded down $0.07 during trading on Wednesday, hitting $0.96. The company had a trading volume of 864,600 shares, compared to its average volume of 628,989. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 2.60. SCYNEXIS has a one year low of $0.35 and a one year high of $1.90. The company has a market cap of $60.12 million, a price-to-earnings ratio of -1.96 and a beta of 2.23. The company’s fifty day moving average is $1.13 and its 200-day moving average is $1.16.

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

About SCYNEXIS

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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