In a report released yesterday, Jason McCarthy from Maxim Group reiterated a Buy rating on SCYNEXIS (SCYX – Research Report), with a price target of $22.00. The company’s shares closed last Wednesday at $8.86.
According to TipRanks.com, McCarthy is a top 100 analyst with an average return of 58.4% and a 60.2% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Appili Therapeutics Inc Class A, Brainstorm Cell Therapeutics, and SELLAS Life Sciences Group.
SCYNEXIS has an analyst consensus of Strong Buy, with a price target consensus of $23.00, a 155.6% upside from current levels. In a report issued on February 23, Brookline Capital Markets also maintained a Buy rating on the stock.
Based on SCYNEXIS’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $909K. In comparison, last year the company had a GAAP net loss of $7.94 million.
Based on the recent corporate insider activity of 15 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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. The company was founded by Scot Kevin Huber, Terry Eugene Marquardt, Pierre Bernard Jacques Monnet, Russell J. Outcalt, and Yves Joseph Ribeill on November 4, 1999 and is headquartered in Jersey City, NJ.