SCYNEXIS (SCYX) Receives a Buy from Needham

By Jason Carr

Needham analyst Alan Carr maintained a Buy rating on SCYNEXIS (SCYXResearch Report) today and set a price target of $5.00. The company’s shares closed last Monday at $1.16.

According to TipRanks.com, Carr is a 1-star analyst with an average return of -1.2% and a 40.4% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Lexicon Pharmaceuticals, and ACADIA Pharmaceuticals.

Currently, the analyst consensus on SCYNEXIS is a Strong Buy with an average price target of $4.90, implying a 271.2% upside from current levels. In a report issued on November 5, Ladenburg Thalmann & Co. also maintained a Buy rating on the stock with a $6.00 price target.

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The company has a one-year high of $1.90 and a one-year low of $0.35. Currently, SCYNEXIS has an average volume of 243.5K.

Based on the recent corporate insider activity of 9 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.

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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.