Maxim Group analyst Jason McCarthy maintained a Buy rating on SCYNEXIS (NASDAQ: SCYX) today and set a price target of $6. The company’s shares closed yesterday at $1.65.
McCarthy commented:
“Scynexis announced positive data from the P2b DOVE study evaluating anti-fungal candidate SCY-078 vs. fluconazole (“Flu” standard of care) in moderate-severe vulvovaginal candidiasis (VVC), demonstrating comparable or enhanced efficacy across multiple measures. Key takeaways from the data (600mg dose group vs. Flu group shown): ○ Dosing: Lowest dose of 600mg (N=27) had best combination of efficacy and tolerability, will take into P3 studies. ○ Test of Cure (TOC): Comparable to fluconazole, 52% vs. 58% at day 10, improved to 70% at day 25 vs. 50% for Flu. ○ Sign and Symptoms (S&S), supports TOC data. At day 10 SCY-078 was 1.0 vs. Flu at 1.8, improved to 0.4 at day 25 where Flu worsened to 2.6. ○ Mycological eradication: At day 10, SCY-078 was 63% vs. 63% for Flu and at day 25 was 48% vs. 38%. ○ P3 studies next, 4Q18: Two studies, N=300 each, 600mg SCY-078 vs. placebo.”
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 13.1% and a 44.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for SCYNEXIS with a $6 average price target, which is a 263.6% upside from current levels. In a report issued on June 29, Canaccord Genuity also initiated coverage with a Buy rating on the stock with a $4 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 577.8K.
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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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