SCYNEXIS, Inc. (NASDAQ:SCYX)’s share price rose 5.3% during mid-day trading on Tuesday . The company traded as high as $2.27 and last traded at $2.17. Approximately 737,700 shares traded hands during trading, an increase of 118% from the average daily volume of 337,666 shares. The stock had previously closed at $2.06.
SCYX has been the subject of a number of recent research reports. ValuEngine lowered shares of SCYNEXIS from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Guggenheim initiated coverage on shares of SCYNEXIS in a research report on Tuesday, October 24th. They set a “buy” rating and a $6.00 price target for the company. Zacks Investment Research raised shares of SCYNEXIS from a “hold” rating to a “buy” rating and set a $2.00 price target for the company in a research report on Tuesday, August 29th. Finally, HC Wainwright set a $14.00 price target on shares of SCYNEXIS and gave the stock a “buy” rating in a research report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. SCYNEXIS presently has an average rating of “Buy” and an average target price of $8.43.
The company has a quick ratio of 7.30, a current ratio of 7.30 and a debt-to-equity ratio of 0.43.
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SCYNEXIS, Inc is engaged in the discovery, development and commercialization of anti-infectives. The Company is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of several fungal infections, including serious invasive fungal infections. SCY-078 is a structurally distinct glucan synthase inhibitor that has been shown to be effective in vitro and in vivo in animal studies against a range of Candida and Aspergillus species, including drug-resistant strains.
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