SCYNEXIS (NASDAQ:SCYX) Issues Quarterly Earnings Results

SCYNEXIS (NASDAQ:SCYX) issued its quarterly earnings results on Thursday. The company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.01, FiscalAI reports.

SCYNEXIS Stock Down 14.1%

Shares of SCYX stock traded down $0.54 during trading hours on Thursday, reaching $3.30. The company’s stock had a trading volume of 133,699 shares, compared to its average volume of 133,241. SCYNEXIS has a fifty-two week low of $3.28 and a fifty-two week high of $9.12. The firm’s 50 day simple moving average is $4.48 and its 200-day simple moving average is $5.50. The company has a market capitalization of $32.84 million, a price-to-earnings ratio of -1.58 and a beta of 1.15.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Brookline Capital Markets reissued a “buy” rating on shares of SCYNEXIS in a research report on Friday, July 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of SCYNEXIS in a research note on Thursday, October 22nd. Wall Street Zen upgraded SCYNEXIS from a “strong sell” rating to a “hold” rating in a research note on Sunday, August 16th. Finally, Guggenheim reaffirmed a “buy” rating and set a $33.00 price target (up from $24.00) on shares of SCYNEXIS in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $33.00.

SCYNEXIS Company Profile

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.