In a report released yesterday, Jason McCarthy from Maxim Group reiterated a Buy rating on SCYNEXIS, with a price target of $4.00.
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Jason McCarthy has given his Buy rating due to a combination of factors that highlight the potential of SCYNEXIS’s next-generation antifungal, SCY-247. The recent Phase 1 studies demonstrated promising safety and tolerability, achieving target exposures with lower doses compared to its predecessor, Ibrexafungerp. This suggests that SCY-247 could offer improved efficacy and reduced side effects, making it a compelling candidate in the antifungal market.
Despite a recent drop in SCYNEXIS’s stock price, McCarthy views this as a temporary reaction to profit-taking, given the stock’s significant rise since July. The company is financially stable, with sufficient capital to support its operations into the fourth quarter of 2026, even without potential milestones from its partnership with GSK. McCarthy believes that the current market conditions and the company’s strategic position present an attractive buying opportunity.