WBB Securities Upgrades SCYNEXIS Inc to Buy

Brokerage firm WBB Securities Upgrades its rating on SCYNEXIS Inc(NASDAQ:SCYX). The shares have been rated Buy. Previously, the analysts had a Speculative Buy rating on the shares. The rating by WBB Securities was issued on Aug 9, 2016.

SCYNEXIS Inc (SCYX) made into the market gainers list on Wednesdays trading session with the shares advancing 25.73% or 0.53 points. Due to strong positive momentum, the stock ended at $2.59, which is also near the day’s high of $2.75. The stock began the session at $2.55 and the volume stood at 73,89,346 shares. The 52-week high of the shares is $8.03 and the 52 week low is $1.74. The company has a current market capitalization of $61 M and it has 2,34,24,741 shares in outstanding.

SCYNEXIS Inc(SCYX) last announced its earnings results on Aug 8, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $64.00K. Analysts had an estimated revenue of $90.00K. Earnings per share were $-0.56. Analysts had estimated an EPS of $-0.52.

Several Insider Transactions has been reported to the SEC. On Jul 1, 2016, Gonzalez David Angulo (Chief Medical Officer) purchased 36,950 shares at $2.20 per share price.Also, 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.

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