Maxim Group Remains a Buy on SCYNEXIS (SCYX)


In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on SCYNEXIS (NASDAQ: SCYX), with a price target of $6. The company’s shares closed yesterday at $1.45.

McCarthy noted:

“Scynexis reported 2Q18 with operating expenses of $7.7M and ended the period with $55M in cash, runway at the current burn rate into late 2019.”

According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 13.9% and a 43.8% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for SCYNEXIS with a $5.80 average 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 725.2K.

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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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