H.C. Wainwright Starts SCYNEXIS (SCYX) at Buy
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
H.C. Wainwright initiates coverage on SCYNEXIS (NASDAQ: SCYX) with a Buy rating and a price target of $14.00.
Analyst Corey Davis commented, " As our title implies, many investors have heard of SCYX, but because the story has taken a while to develop, the stock has been stuck in microcap land. We think this will start to change next year. Systemic invasive fungal infections are very different than more common "yeast" infections, "toenail fungus", or "jock itch", etc., since they most frequently occur in patients already hospitalized, and despite existing therapies, have mortality rates as high as 50% (even with drug treatment). Scynexis has a novel anti-fungal, SCY-078, with very little competition, in an area that desperately needs innovation. It has passed muster in Phase 2 and is entering later stage trials. Its primary advantages include: 1) a novel class; 2) activity against resistant strains; and 3) availability in both IV and oral formulations. We look forward to the next set of results expected by the end of 2017. Assuming it can launch in the 2020 time-frame, we have modeled peak expectations for the drug ~$400-500M."
Shares of SCYNEXIS closed at $3.64 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BTIG Starts Mitek Systems (MITK) at Buy
- Jefferies Raises Price Target on Finisar (FNSR) to $37 Following 2Q Beat and Raise
- Jefferies Cuts Price Target on Entergy (ETR) to $72 Following Announced PPA Termination
Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Related EntitiesH.C. Wainwright
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!