SCYNEXIS (SCYX) Receives a Buy from Ladenburg

Ladenburg analyst Michael Higgins maintained a Buy rating on SCYNEXIS (SCYX) today and set a price target of $6. The company’s shares closed yesterday at $1.59.

Higgins wrote:

“We believe oral ibrexafungerp’s activity in the most refractory of patients with invasive fungal infections has driven its shares higher in recent months. Interim data reported in January from the first 20 patients in FURI (invasive Candida infections) showed that 85% of these very challenging patients exhibited clinical benefits. Additionally, results from the first two patients in CARES (invasive C. auris) were presented at ECCMID in April, both clearing infections without recurrence. C. auris is gaining visibility following an Times articles on the growing threat of C. auris highlighting its drug-resistant nature, rapid spread, high mortality (≤60%) and the climate of fear surrounding it. And just last weekend, on May 5, NY Senator Chuck Schumer called on the CDC to declare C. auris an emergency, which could unlock millions in public health funding.”

According to TipRanks.com, Higgins is ranked 0 out of 5 stars with an average return of -4.9% and a 31.8% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Rhythm Pharmaceuticals Inc, Paratek Pharmaceuticals, and Zynerba Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for SCYNEXIS with a $6.25 average price target.

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Based on SCYNEXIS’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $1.94 million. In comparison, last year the company had a GAAP net loss of $4 million.

Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SCYX in relation to earlier this year.

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SCYNEXIS, Inc. is a biotechnology company, which engages in the development of novel oral and intravenous triterpenoid antifungal for the treatment of several serious fungal infections, including vulvovaginal candidiasis, invasive aspergillosis, invasive candidiasis, and refractory invasive fungal infections.