Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday, September 1st.
Several other research firms have also issued reports on ZYNE. Cantor Fitzgerald reiterated a “buy” rating and set a $28.00 target price on shares of Zynerba Pharmaceuticals in a report on Tuesday, May 9th. Roth Capital set a $30.00 price objective on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, May 13th. Canaccord Genuity set a $35.00 price objective on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, May 13th. Maxim Group set a $32.00 price objective on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, June 26th. Finally, Zacks Investment Research upgraded Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $12.67.
Shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) traded down 0.80% on Friday, reaching $6.23. 325,800 shares of the company traded hands. The firm has a 50-day moving average of $6.25 and a 200-day moving average of $13.29. The company’s market capitalization is $82.59 million. Zynerba Pharmaceuticals has a 52-week low of $6.10 and a 52-week high of $23.57.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its earnings results on Tuesday, August 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.04). On average, equities research analysts forecast that Zynerba Pharmaceuticals will post ($2.42) earnings per share for the current fiscal year.
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A number of large investors have recently modified their holdings of ZYNE. Bank of New York Mellon Corp grew its position in Zynerba Pharmaceuticals by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 12,165 shares of the company’s stock worth $245,000 after buying an additional 635 shares in the last quarter. Cheyne Capital Management UK LLP grew its position in Zynerba Pharmaceuticals by 23.5% during the first quarter. Cheyne Capital Management UK LLP now owns 61,762 shares of the company’s stock worth $1,241,000 after buying an additional 11,762 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Zynerba Pharmaceuticals in the 1st quarter valued at $188,000. Granite Point Capital Management L.P. acquired a new stake in shares of Zynerba Pharmaceuticals in the 1st quarter valued at $1,990,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Zynerba Pharmaceuticals in the 1st quarter valued at $410,000. 34.32% of the stock is currently owned by institutional investors and hedge funds.
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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