SCYNEXIS Inc (SCYX) was Reiterated by Needham to “Buy” while Lowering the Price Target of the company shares to $ 10 from a previous price target of $16 . Needham advised their investors in a research report released on Aug 9, 2016.
Many Wall Street Analysts have commented on SCYNEXIS Inc. WBB Securities Upgraded SCYNEXIS Inc on Aug 9, 2016 to ” Buy”, Price Target of the shares are set at $8.
SCYNEXIS Inc opened for trading at $2.01 and hit $2.13 on the upside on Monday, eventually ending the session at $2.09, with a gain of 0.48% or 0.01 points. The heightened volatility saw the trading volume jump to 3,64,463 shares. Company has a market cap of $29 M.
In a different news, on Jul 1, 2016, Gonzalez David Angulo (Chief Medical Officer) purchased 36,950 shares at $2.20 per share price. According to the SEC, on Jun 28, 2016, Marco Taglietti (CEO) purchased 100,000 shares at $2.39 per share price. On Jun 28, 2016, Guy Macdonald (director) purchased 40,000 shares at $2.39 per share price, according to the Form-4 filing with the securities and exchange commission.
SCYNEXIS Inc. is a pharmaceutical company. The Company is engaged in the discovery development and commercialization of anti-infectives. It also provides contract research and development services primarily in the field of animal health. Its lead product candidate SCY-078 is an oral and intravenous (IV) drug for the treatment of serious and life-threatening invasive fungal infections in humans. SCY-078 has been shown to be effective in vitro and in vivo in animal studies against a range of Candida and Aspergillus species including drug resistant strains. In addition the Company has additional compounds similar to SCY-078. The Company has developed a platform for cyclophilin inhibitors. Its cyclophilin inhibitor platform has two clinical stage compounds: SCY-635 which is a cyclophilin inhibitor for the treatment of dog dry eye and SCY-641 which is a cyclophilin inhibitor with activity similar to cyclosporine for the treatment of viral diseases in humans.