Cantor Fitzgerald Starts SCYNEXIS (SCYX) at Overweight
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Cantor Fitzgerald analyst Louise Chen initiates coverage on SCYNEXIS (NASDAQ: SCYX) with a Overweight rating and a price target of $30.00.
The analyst comments "The peak sales potential of ibrexafungerp, for the treatment of fungal infections, is underappreciated, in our view. Therefore, we expect upwards earnings revisions to drive SCYX shares higher. Upwards earnings revisions could come from: 1) The approval of ibrexafungerp for vulvovaginal candidiasis (VVC) on or before its PDUFA date of 6/1/21; 2) Positive, phase 3 data from SCYX's CANDLE study for the prevention of recurrent VVC in 2H21, 3) Positive data readout for Phase 2 SCYNERGIA invasive aspergillosis study in 2H21, and 4) Positive data readouts for refractory invasive fungal infections (FURI) and candida auris (CARES) in 1Q21. We also think SCYX is an interesting company in a consolidating space."
Shares of SCYNEXIS closed at $7.17 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Related EntitiesCantor Fitzgerald, Earnings, Louise Chen, PDUFA
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