Scynexis price target lowered to $6 from $7 at Guggenheim

Guggenheim lowered the firm’s price target on Scynexis to $6 from $7 and keeps a Buy rating on the shares following the Q4 report. The firm says it focus remains on the steps the company needs to take to resolve the manufacturing issue that led to the recall of Brexafemme and a pause of the MARIO trial. The analyst continues to see a significant unmet need in addressing the growing threat of drug resistant infectious diseases, and believes ibrexafung could play an important role in this area over time.