Zynerba Pharmaceuticals (ZYNE) Upgraded by Zacks Investment Research to Buy

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Zacks Investment Research upgraded shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) from a hold rating to a buy rating in a research report released on Saturday. Zacks Investment Research currently has $4.50 price target on the stock.

According to Zacks, “Zynerba Pharmaceuticals, Inc. is a specialty pharmaceutical company which focuses on developing and commercializing proprietary synthetic cannabinoid therapeutics formulated for transdermal delivery. Its product candidates which are in clinical trial stage include ZYN002 and ZYN001 synthetic transdermal cannabinoid therapeutics for indications including refractory epilepsy, Fragile X syndrome, osteoarthritis, fibromyalgia and peripheral neuropathic pain. Zynerba Pharmaceuticals, Inc. is headquartered in Devon, Pennsylvania. “

ZYNE has been the topic of a number of other reports. Cantor Fitzgerald set a $21.00 target price on shares of Zynerba Pharmaceuticals and gave the company a buy rating in a report on Monday, December 17th. HC Wainwright set a $23.00 target price on shares of Zynerba Pharmaceuticals and gave the company a buy rating in a report on Tuesday, November 13th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $17.50.

ZYNE stock traded down $0.06 during midday trading on Friday, reaching $3.89. 201,969 shares of the company were exchanged, compared to its average volume of 332,970. Zynerba Pharmaceuticals has a 1-year low of $2.75 and a 1-year high of $12.98. The stock has a market cap of $68.57 million, a P/E ratio of -1.57 and a beta of 4.28.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its earnings results on Thursday, November 8th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.23. On average, equities analysts predict that Zynerba Pharmaceuticals will post -2.87 EPS for the current year.

Large investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in Zynerba Pharmaceuticals in the 4th quarter valued at $40,000. Thompson Siegel & Walmsley LLC purchased a new position in Zynerba Pharmaceuticals in the 3rd quarter valued at $157,000. Raymond James & Associates purchased a new position in Zynerba Pharmaceuticals in the 2nd quarter valued at $164,000. GSA Capital Partners LLP purchased a new position in Zynerba Pharmaceuticals in the 3rd quarter valued at $177,000. Finally, Zeke Capital Advisors LLC purchased a new position in Zynerba Pharmaceuticals in the 3rd quarter valued at $193,000. Hedge funds and other institutional investors own 16.50% of the company’s stock.

Zynerba Pharmaceuticals Company Profile

Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. The company focuses on developing and commercializing pharmaceutically-produced transdermal cannabinoid treatments for rare or near-rare neuropsychiatric disorders. Its product candidates include ZYN002, which completed Phase II clinical trial for pediatric and adolescent patients with fragile X syndrome, pediatric and adolescent patients with developmental and epileptic encephalopathies, and adult patients with refractory epileptic focal seizures; and ZYN001 that is in Phase I clinical trial to treat Tourette syndrome.

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Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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One Response

  1. Timothy Dale Brown says:

    The contents of the article are well known and true, basically meaning this isn’t anything that I haven’t read before regarding my investment with Zynerba Pharmaceuticals; However, and a big however, is that their stock price/activity doesn’t reflect a word of it. Several months ago I bought up shares with the company and watched it take a steady decline down to half of what I initially purchased them for. I have witnessed the stock attempt to climb back up precisely two times, only to be beat down and trodden on again. I know nobody asked for my opinion, but my opinion is Zynerba Pharmaceuticals business or management skills are lacking. The only other reasonable assumption I can make is that Zynerba is in it for the “benefit of mankind”, which has high moral and perhaps ethical values, but doesn’t produce any profit for the company’s investors.
    In conclusion I want to apologize for my long winded criticism of Zynerba Pharmaceuticals and that I am not selling my portion yet (god knows how it eggs on me) I am an action man, for openers I don’t sell any stock for less then I originally bought it for because more times than not the price will eventually come back to where you don’t have to take a loss. When I first researched the company I thought wow what a good investment, but I highly doubt running the way the company is running right now that anybody is ever going to see any significant gains…
    Timothy Dale Brown

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