.jpg "SCYNEXIS (SCYX) Receives a Buy from Canaccord Genuity")
In a report released yesterday, Dewey Steadman from Canaccord Genuity reiterated a Buy rating on SCYNEXIS (NASDAQ: SCYX), with a price target of $4. The company’s shares opened today at $1.42.
Steadman said:
“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 4.2% and a 39.2% 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, representing a 308.5% upside. In a report released today, 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 717.4K.
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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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