SCYNEXIS Receives a Buy from H.C. Wainwright

By Carrie Williams

H.C. Wainwright analyst Corey Davis reiterated a Buy rating on SCYNEXIS (NASDAQ: SCYX) today and set a price target of $14. The company’s shares opened today at $3.08.

According to TipRanks.com, Davis is a 3-star analyst with an average return of 1.8% and a 44.9% success rate. Davis covers the Healthcare sector, focusing on stocks such as Aquinox Pharmaceuticals, Infotek Pharmaceuticals, and Zynerba Pharmaceuticals.

Currently, the analyst consensus on SCYNEXIS is Moderate Buy and the average price target is $10, representing a 224.7% upside.

In a report issued on March 3, Needham also reiterated a Buy rating on the stock with a $10 price target.

The company has a one year high of $5.51 and a one year low of $1.74. Currently, SCYNEXIS has an average volume of 445.6K.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SCYX in relation to earlier this year. Most recently, in December 2016, Marco Taglietti, the CEO of SCYX bought 25,000 shares for a total of $82,500.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

SCYNEXIS, Inc. engages in discovery, development and commercialization of novel anti infective to address significant unmet therapeutic needs. The company develops candidate, SCY-078, as a novel oral and intravenous drug for the treatment of serious and life-threatening invasive fungal infections in humans. It also has clinical and preclinical programs based on the use of cyclophilin inhibitors to treat viral diseases and provide contract research and development services, primarily in the field of animal health. The company was founded by Scot Kevin Huber, Terry Eugene Marquardt, Pierre Bernard Jacques Monnet, Russell J. Outcalt and Yves Joseph Ribeill on November 4, 1999 and is headquartered in Durham, NC.