Zynerba Pharmaceuticals (NASDAQ:ZYNE) released its quarterly earnings results on Monday. The company reported ($0.60) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.60), Briefing.com reports. During the same quarter in the previous year, the business earned ($0.71) earnings per share.
Zynerba Pharmaceuticals (NASDAQ ZYNE) traded down $0.53 during trading hours on Tuesday, hitting $10.00. 264,049 shares of the stock traded hands, compared to its average volume of 338,159. The firm has a market capitalization of $155.21 and a P/E ratio of -3.92. Zynerba Pharmaceuticals has a 1-year low of $5.42 and a 1-year high of $25.95.
Several research firms have recently commented on ZYNE. Canaccord Genuity set a $18.00 price objective on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, December 4th. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 18th. Cantor Fitzgerald set a $17.00 price objective on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, December 4th. Oppenheimer reiterated a “hold” rating on shares of Zynerba Pharmaceuticals in a research note on Wednesday, January 3rd. Finally, Piper Jaffray Companies lifted their price objective on shares of Zynerba Pharmaceuticals from $16.00 to $20.00 in a research note on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Zynerba Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $17.77.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company acquired a new position in Zynerba Pharmaceuticals during the second quarter valued at $158,000. California State Teachers Retirement System acquired a new position in Zynerba Pharmaceuticals during the second quarter valued at $343,000. Finally, State Street Corp acquired a new position in Zynerba Pharmaceuticals during the second quarter valued at $2,698,000. Institutional investors own 29.07% of the company’s stock.
Zynerba Pharmaceuticals Company Profile
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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