Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) has been given an average rating of “Buy” by the seven analysts that are covering the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $30.83.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research report on Tuesday, July 19th. Oppenheimer Holdings Inc. reiterated a “buy” rating and issued a $29.00 price target on shares of Zynerba Pharmaceuticals in a research report on Tuesday, June 28th. Canaccord Genuity reiterated a “buy” rating and issued a $35.00 price target on shares of Zynerba Pharmaceuticals in a research report on Tuesday, August 16th. HC Wainwright assumed coverage on Zynerba Pharmaceuticals in a research report on Friday. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Roth Capital set a $25.00 price target on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, September 6th.
In other news, insider Suzanne M. Hanlon sold 3,000 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $10.53, for a total transaction of $31,590.00. Following the sale, the insider now owns 39,893 shares in the company, valued at $420,073.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.02% of the company’s stock.
Several hedge funds have recently made changes to their positions in ZYNE. State Street Corp boosted its stake in shares of Zynerba Pharmaceuticals by 1.5% in the first quarter. State Street Corp now owns 37,629 shares of the company’s stock valued at $356,000 after buying an additional 562 shares during the last quarter. Emerald Advisers Inc. PA boosted its stake in shares of Zynerba Pharmaceuticals by 5.6% in the second quarter. Emerald Advisers Inc. PA now owns 176,514 shares of the company’s stock valued at $1,209,000 after buying an additional 9,329 shares during the last quarter. Alpine Partners VI LLC acquired a new stake in shares of Zynerba Pharmaceuticals during the second quarter valued at approximately $113,000. Finally, Cormorant Asset Management LLC raised its position in shares of Zynerba Pharmaceuticals by 33.2% in the first quarter. Cormorant Asset Management LLC now owns 475,035 shares of the company’s stock valued at $4,489,000 after buying an additional 118,435 shares during the period. Institutional investors own 23.78% of the company’s stock.
Shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) opened at 13.61 on Friday. The firm has a 50-day moving average of $11.11 and a 200 day moving average of $9.14. Zynerba Pharmaceuticals has a 12 month low of $4.64 and a 12 month high of $21.56. The company’s market capitalization is $125.20 million.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its earnings results on Thursday, August 11th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by $0.18. Zynerba Pharmaceuticals had a negative net margin of 5,681.48% and a negative return on equity of 51.49%. On average, equities research analysts expect that Zynerba Pharmaceuticals will post ($2.54) earnings per share for the current fiscal year.
Zynerba Pharmaceuticals Company Profile
Zynerba Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing and commercializing synthetic cannabinoid therapeutics formulated for transdermal delivery. The Company is evaluating approximately two product candidates, ZYN002 and ZYN001, in over five indications, including refractory epilepsy, Fragile X syndrome (FXS), osteoarthritis (OA), fibromyalgia and peripheral neuropathic pain.
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