Zynerba Pharmaceuticals (NASDAQ:ZYNE)‘s stock had its “hold” rating reaffirmed by equities researchers at Oppenheimer in a note issued to investors on Wednesday.
A number of other research firms have also recently issued reports on ZYNE. Zacks Investment Research upgraded shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, December 8th. Piper Jaffray Companies upgraded shares of Zynerba Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $7.00 to $16.00 in a research note on Thursday, September 28th. Cantor Fitzgerald set a $17.00 target price on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, November 20th. Canaccord Genuity raised their target price on shares of Zynerba Pharmaceuticals from $9.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, September 29th. Finally, Roth Capital set a $15.00 target price on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Sunday, October 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $15.00.
Zynerba Pharmaceuticals (ZYNE) traded down $0.76 during midday trading on Wednesday, hitting $12.70. 658,600 shares of the stock were exchanged, compared to its average volume of 545,367. The firm has a market cap of $170.37 and a PE ratio of -4.90. Zynerba Pharmaceuticals has a one year low of $5.42 and a one year high of $25.95.
In other Zynerba Pharmaceuticals news, major shareholder Michael Rapp acquired 15,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was acquired at an average price of $12.99 per share, for a total transaction of $194,850.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired a total of 85,000 shares of company stock valued at $875,161 in the last quarter. Corporate insiders own 9.91% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Nationwide Fund Advisors acquired a new stake in Zynerba Pharmaceuticals in the 2nd quarter worth about $110,000. Zeke Capital Advisors LLC acquired a new stake in Zynerba Pharmaceuticals in the 3rd quarter worth about $114,000. The Manufacturers Life Insurance Company acquired a new stake in Zynerba Pharmaceuticals in the 2nd quarter worth about $158,000. Cowen Inc. acquired a new stake in Zynerba Pharmaceuticals in the 3rd quarter worth about $167,000. Finally, New York State Common Retirement Fund acquired a new stake in Zynerba Pharmaceuticals in the 2nd quarter worth about $207,000. Institutional investors and hedge funds own 26.71% of the company’s stock.
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About Zynerba Pharmaceuticals
Zynerba Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company is engaged in developing and commercializing transdermal synthetic cannabinoid treatments for patients with high unmet needs. Its development pipeline includes two product candidates: ZYN002 and ZYN001. ZYN002 is a synthetic cannabidiol (CBD), which is a non-psychoactive cannabinoid, formulated as a patent-protected permeation-enhanced gel for transdermal delivery through the skin and into the circulatory system.
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