ValuEngine Upgrades Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) to Sell

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.

WARNING: “ValuEngine Upgrades Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) to Sell” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another site, it was stolen and republished in violation of United States and international copyright law. The legal version of this piece can be accessed at https://ledgergazette.com/2017/09/16/valuengine-upgrades-zynerba-pharmaceuticals-inc-zyne-to-sell.html.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

Receive News & Ratings for Zynerba Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynerba Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply