SCYNEXIS (SCYX) Receives a Buy from H.C. Wainwright

By Carrie Williams

In a report released today, Oren Livnat from H.C. Wainwright reiterated a Buy rating on SCYNEXIS (SCYXResearch Report), with a price target of $3.50. The company’s shares closed last Tuesday at $0.88.

According to TipRanks.com, Livnat is a 1-star analyst with an average return of -1.8% and a 40.2% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Collegium Pharmaceutical, Zynerba Pharmaceuticals, and Verrica Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for SCYNEXIS with a $4.38 average price target, implying a 346.9% upside from current levels. In a report released yesterday, Needham also assigned a Buy rating to the stock with a $5.00 price target.

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Based on SCYNEXIS’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $14.46 million. In comparison, last year the company earned revenue of $64K and had a net profit of $1.94 million.

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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. 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 Jersey City, NJ.