Other equities analysts have also recently issued reports about the company. Canaccord Genuity reiterated a buy rating and issued a $35.00 target price on shares of Zynerba Pharmaceuticals in a report on Tuesday, August 16th. Zacks Investment Research upgraded Zynerba Pharmaceuticals from a hold rating to a buy rating and set a $8.50 price objective on the stock in a research note on Tuesday, July 19th. Oppenheimer Holdings Inc. restated a buy rating and set a $29.00 price objective on shares of Zynerba Pharmaceuticals in a research note on Tuesday, June 28th. Roth Capital set a $25.00 price objective on Zynerba Pharmaceuticals and gave the company a buy rating in a research note on Tuesday, September 6th. Finally, Piper Jaffray Cos. restated an overweight rating and set a $42.00 price objective on shares of Zynerba Pharmaceuticals in a research note on Friday, August 12th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Zynerba Pharmaceuticals has an average rating of Buy and a consensus price target of $27.64.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) opened at 12.12 on Friday. The firm’s market capitalization is $111.49 million. Zynerba Pharmaceuticals has a 1-year low of $4.64 and a 1-year high of $21.56. The company has a 50 day moving average of $11.35 and a 200 day moving average of $9.20.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its earnings results on Thursday, August 11th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, equities research analysts anticipate that Zynerba Pharmaceuticals will post ($2.54) earnings per share for the current year.
In other news, insider Suzanne M. Hanlon sold 3,000 shares of Zynerba Pharmaceuticals 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 directly owns 39,893 shares in the company, valued at approximately $420,073.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.02% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ZYNE. State Street Corp boosted its stake in Zynerba Pharmaceuticals by 1.5% in the first quarter. State Street Corp now owns 37,629 shares of the company’s stock worth $356,000 after buying an additional 562 shares during the last quarter. Emerald Advisers Inc. PA boosted its stake in Zynerba Pharmaceuticals by 5.6% in the second quarter. Emerald Advisers Inc. PA now owns 176,514 shares of the company’s stock worth $1,209,000 after buying an additional 9,329 shares during the last quarter. Alpine Partners VI LLC acquired a new stake in Zynerba Pharmaceuticals during the second quarter worth approximately $113,000. Finally, Cormorant Asset Management LLC boosted its stake in Zynerba Pharmaceuticals by 33.2% in the first quarter. Cormorant Asset Management LLC now owns 475,035 shares of the company’s stock worth $4,489,000 after buying an additional 118,435 shares during the last quarter. Institutional investors own 23.78% 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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