Stock Traders Purchase Large Volume of Call Options on Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) saw unusually large options trading activity on Monday. Stock investors purchased 24,664 call options on the stock. This represents an increase of approximately 1,580% compared to the typical daily volume of 1,468 call options.

Several institutional investors have recently modified their holdings of ZYNE. BNP Paribas Arbitrage SA boosted its stake in shares of Zynerba Pharmaceuticals by 114.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,095 shares of the company’s stock worth $27,000 after acquiring an additional 3,793 shares during the last quarter. Citigroup Inc. raised its position in shares of Zynerba Pharmaceuticals by 93.4% during the 4th quarter. Citigroup Inc. now owns 6,940 shares of the company’s stock valued at $42,000 after purchasing an additional 3,352 shares during the period. Parametric Portfolio Associates LLC bought a new stake in shares of Zynerba Pharmaceuticals during the 1st quarter valued at $54,000. AQR Capital Management LLC raised its position in shares of Zynerba Pharmaceuticals by 10.2% during the 1st quarter. AQR Capital Management LLC now owns 27,223 shares of the company’s stock valued at $104,000 after purchasing an additional 2,526 shares during the period. Finally, California Public Employees Retirement System bought a new stake in shares of Zynerba Pharmaceuticals during the 4th quarter valued at $109,000. Institutional investors and hedge funds own 36.96% of the company’s stock.

Several equities research analysts recently issued reports on the stock. LADENBURG THALM/SH SH restated a “buy” rating and issued a $26.00 target price on shares of Zynerba Pharmaceuticals in a report on Monday. Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Zynerba Pharmaceuticals in a report on Thursday, April 16th. Zacks Investment Research restated a “buy” rating and issued a $6.25 target price on shares of Zynerba Pharmaceuticals in a report on Saturday, May 30th. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Finally, Cantor Fitzgerald raised their target price on shares of Zynerba Pharmaceuticals from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Zynerba Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $15.88.

Shares of Zynerba Pharmaceuticals stock opened at $6.54 on Tuesday. The company’s fifty day simple moving average is $5.42 and its 200-day simple moving average is $4.84. The stock has a market capitalization of $157.19 million, a PE ratio of -4.17 and a beta of 3.12. Zynerba Pharmaceuticals has a 1-year low of $2.55 and a 1-year high of $15.70.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.53) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.03). On average, equities research analysts expect that Zynerba Pharmaceuticals will post -1.75 EPS for the current fiscal year.

Zynerba Pharmaceuticals Company Profile

Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. It focuses on developing pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. The company is developing Zygel, a transdermal cannabidiol gel, which is in Phase II clinical trial for treating children and adolescent patients with developmental and epileptic encephalopathies; is in Phase II/III clinical trial to treat children and adolescent patients with fragile X syndrome; and is in Phase II clinical trial for treating children and adolescent patients with autism spectrum disorder.

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