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.
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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