.jpg "SCYNEXIS (NASDAQ: SCYX)")
Canaccord Genuity analyst Dewey Steadman maintained a Buy rating on SCYNEXIS (NASDAQ: SCYX) today and set a price target of $4. The company’s shares opened today at $1.41.
Steadman commented:
“We’d use any weakness in SCYX shares to build long term positions ahead of a pivotal VVC read and what could be positive data from preliminary FURI and CARES reads expected later this year.”
According to TipRanks.com, Steadman is a 3-star analyst with an average return of 3.3% and a 38.3% success rate. Steadman covers the Healthcare sector, focusing on stocks such as ANI Pharmaceuticals Inc, Pacira Pharmaceuticals, and Perrigo Company plc.
Currently, the analyst consensus on SCYNEXIS is a Strong Buy with an average price target of $5.80, implying a 311.3% upside from current levels. In a report issued on August 10, Maxim Group also maintained a Buy rating on the stock with a $6 price target.
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The company has a one-year high of $2.50 and a one-year low of $1.05. Currently, SCYNEXIS has an average volume of 733.3K.
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SCYNEXIS, Inc. engages in the development and commercialization of novel anti-infectives, which addresses the significant unmet therapeutic needs. It develops a novel oral and intravenous drug for several fungal infections, including serious and life-threatening invasive fungal infections.
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