Brokerages Anticipate SCYNEXIS, Inc. (NASDAQ:SCYX) Will Announce Quarterly Sales of $1.18 Million

Posted by on Jun 3rd, 2022

Brokerages expect SCYNEXIS, Inc. (NASDAQ:SCYX – Get Rating) to report $1.18 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for SCYNEXIS’s earnings, with the lowest sales estimate coming in at $1.12 million and the highest estimate coming in at $1.24 million. The business is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that SCYNEXIS will report full-year sales of $7.29 million for the current year, with estimates ranging from $6.43 million to $8.16 million. For the next fiscal year, analysts forecast that the firm will report sales of $33.64 million, with estimates ranging from $33.36 million to $33.92 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for SCYNEXIS.

SCYNEXIS (NASDAQ:SCYX – Get Rating) last announced its quarterly earnings results on Thursday, May 12th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.56. During the same period last year, the company posted ($0.23) EPS.

SCYX has been the subject of a number of research reports. Zacks Investment Research upgraded SCYNEXIS from a “sell” rating to a “hold” rating in a research report on Thursday, March 3rd. HC Wainwright cut their price objective on SCYNEXIS from $14.00 to $8.00 in a report on Friday, May 13th. Finally, StockNews.com started coverage on SCYNEXIS in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.50.

Shares of NASDAQ SCYX opened at $2.13 on Friday. The stock has a market cap of $69.39 million, a PE ratio of -1.41 and a beta of 2.07. The business has a fifty day moving average of $2.79 and a two-hundred day moving average of $4.63. SCYNEXIS has a 52-week low of $1.81 and a 52-week high of $8.73. The company has a debt-to-equity ratio of 1.14, a quick ratio of 7.78 and a current ratio of 7.87.

In related news, CEO Marco Taglietti bought 75,000 shares of the company’s stock in a transaction dated Tuesday, April 26th. The shares were bought at an average price of $3.00 per share, for a total transaction of $225,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 272,068 shares of the company’s stock, valued at $816,204. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.69% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. AIGH Capital Management LLC lifted its stake in SCYNEXIS by 520.5% during the fourth quarter. AIGH Capital Management LLC now owns 2,129,045 shares of the company’s stock worth $12,988,000 after purchasing an additional 1,785,919 shares during the last quarter. Decheng Capital Management III Cayman LLC purchased a new stake in shares of SCYNEXIS in the 1st quarter worth approximately $2,172,000. Kingdon Capital Management L.L.C. grew its stake in shares of SCYNEXIS by 25.1% in the 4th quarter. Kingdon Capital Management L.L.C. now owns 797,048 shares of the company’s stock worth $4,862,000 after buying an additional 160,000 shares during the last quarter. Brandywine Global Investment Management LLC bought a new position in SCYNEXIS in the 3rd quarter valued at approximately $650,000. Finally, DAFNA Capital Management LLC bought a new position in SCYNEXIS in the 4th quarter valued at approximately $740,000. 55.69% of the stock is owned by institutional investors and hedge funds.

About SCYNEXIS (Get Rating)

SCYNEXIS, Inc, a biotechnology company, develops products for the treatment fungal infections in the United States. It offers BREXAFEMME (ibrexafungerp tablets) for the treatment of vulvovaginal candidiasis (VVC). The company is developing its lead product candidate, Ibrexafungerp, as a novel oral and intravenous drug for the treatment of various fungal infections, including recurrent VVC, invasive aspergillosis, invasive candidiasis, and refractory invasive fungal infections; and ibrexafungerp that has completed Phase 3 CANDLE study for the prevention of recurrent (VVC).

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