Emerald Advisers Inc. PA raised its stake in shares of Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) by 5.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 176,514 shares of the company’s stock after buying an additional 9,329 shares during the period. Emerald Advisers Inc. PA’s holdings in Zynerba Pharmaceuticals were worth $1,209,000 at the end of the most recent reporting period.
Separately, State Street Corp raised its position 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 period. Institutional investors own 23.78% of the company’s stock.
Shares of Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) traded down 5.01% during mid-day trading on Tuesday, hitting $12.71. The company had a trading volume of 226,849 shares. The firm has a 50-day moving average price of $11.21 and a 200 day moving average price of $9.15. Zynerba Pharmaceuticals Inc. has a 52-week low of $4.64 and a 52-week high of $21.56. The firm’s market capitalization is $116.92 million.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its quarterly earnings results on Thursday, August 11th. The company reported ($0.70) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by $0.18. Zynerba Pharmaceuticals had a negative return on equity of 51.49% and a negative net margin of 5,681.48%. Analysts expect that Zynerba Pharmaceuticals Inc. will post ($2.54) earnings per share for the current year.
Several research analysts have issued reports on ZYNE shares. Oppenheimer Holdings Inc. restated a “buy” rating and set a $29.00 target price on shares of Zynerba Pharmaceuticals in a research report on Tuesday, June 28th. Zacks Investment Research upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a research report on Tuesday, July 19th. Piper Jaffray Cos. restated an “overweight” rating and set a $42.00 target price on shares of Zynerba Pharmaceuticals in a research report on Tuesday, July 26th. Canaccord Genuity set a $35.00 target price on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 16th. Finally, Roth Capital set a $25.00 target price on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, September 6th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Zynerba Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $27.64.
In related news, insider Suzanne M. Hanlon sold 3,000 shares of Zynerba Pharmaceuticals stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $10.53, for a total transaction of $31,590.00. Following the sale, the insider now directly owns 39,893 shares in the company, valued at approximately $420,073.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.02% of the company’s stock.
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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