Zynerba Pharmaceuticals (ZYNE) Receiving Somewhat Favorable News Coverage, Report Finds

News headlines about Zynerba Pharmaceuticals (NASDAQ:ZYNE) have been trending somewhat positive on Thursday, Accern Sentiment Analysis reports. The research firm ranks the sentiment of news coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Zynerba Pharmaceuticals earned a news impact score of 0.20 on Accern’s scale. Accern also gave media stories about the company an impact score of 45.7904140182228 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.

Here are some of the media stories that may have impacted Accern’s analysis:

Shares of Zynerba Pharmaceuticals (ZYNE) traded up $0.55 during trading on Thursday, reaching $11.72. The company’s stock had a trading volume of 364,700 shares, compared to its average volume of 636,488. Zynerba Pharmaceuticals has a 52-week low of $5.42 and a 52-week high of $25.95.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings results on Tuesday, November 14th. The company reported ($0.63) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($0.05). During the same period in the previous year, the business posted ($0.67) earnings per share. sell-side analysts predict that Zynerba Pharmaceuticals will post -2.49 earnings per share for the current year.

Several brokerages recently issued reports on ZYNE. Zacks Investment Research raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, December 8th. Cantor Fitzgerald set a $17.00 price target on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, December 4th. Canaccord Genuity set a $18.00 price target on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, December 4th. Oppenheimer reiterated a “hold” rating on shares of Zynerba Pharmaceuticals in a report on Tuesday, November 14th. Finally, Piper Jaffray Companies increased their price target on Zynerba Pharmaceuticals from $16.00 to $20.00 in a report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Zynerba Pharmaceuticals presently has an average rating of “Hold” and an average target price of $15.00.

In other news, major shareholder Michael Rapp bought 44,255 shares of Zynerba Pharmaceuticals stock in a transaction dated Thursday, October 19th. The stock was bought at an average cost of $9.59 per share, for a total transaction of $424,405.45. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 9.91% of the company’s stock.

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Zynerba Pharmaceuticals Company Profile

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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