Equities analysts predict that Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) will report earnings of ($0.64) per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have made estimates for Zynerba Pharmaceuticals’ earnings, with estimates ranging from ($0.66) to ($0.61). Zynerba Pharmaceuticals reported earnings per share of ($0.71) during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.9%. The company is scheduled to issue its next earnings report on Monday, March 26th.
According to Zacks, analysts expect that Zynerba Pharmaceuticals will report full year earnings of ($2.49) per share for the current fiscal year, with EPS estimates ranging from ($2.54) to ($2.45). For the next fiscal year, analysts forecast that the business will post earnings of ($2.34) per share, with EPS estimates ranging from ($2.64) to ($2.06). Zacks’ EPS calculations are an average based on a survey of sell-side analysts that follow Zynerba Pharmaceuticals.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its quarterly earnings results on Tuesday, November 14th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.05). During the same quarter last year, the business posted ($0.67) EPS.
A number of analysts recently weighed in on ZYNE shares. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Oppenheimer reiterated a “hold” rating on shares of Zynerba Pharmaceuticals in a research report on Tuesday, November 14th. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 18th. Cantor Fitzgerald set a $17.00 price target on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, November 20th. Finally, Piper Jaffray Companies upgraded shares of Zynerba Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $7.00 to $16.00 in a report on Thursday, September 28th. One equities research 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’s stock. The company presently has a consensus rating of “Hold” and an average price target of $15.00.
In related news, major shareholder Michael Rapp bought 44,255 shares of the company’s stock in a transaction on Thursday, October 19th. The shares were purchased 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 accessible through the SEC website. Company insiders own 9.91% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Nationwide Fund Advisors bought a new position in shares of Zynerba Pharmaceuticals during the 2nd quarter worth approximately $110,000. Zeke Capital Advisors LLC bought a new position in shares of Zynerba Pharmaceuticals during the 3rd quarter worth approximately $114,000. The Manufacturers Life Insurance Company bought a new position in shares of Zynerba Pharmaceuticals during the 2nd quarter worth approximately $158,000. Cowen Inc. bought a new position in shares of Zynerba Pharmaceuticals during the 3rd quarter worth approximately $167,000. Finally, New York State Common Retirement Fund bought a new position in shares of Zynerba Pharmaceuticals during the 2nd quarter worth approximately $207,000. 26.71% of the stock is owned by institutional investors.
Shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) traded up $0.49 during trading hours on Friday, hitting $13.14. 260,900 shares of the company were exchanged, compared to its average volume of 618,934. The firm has a market cap of $171.46, a P/E ratio of -5.09 and a beta of 5.81. Zynerba Pharmaceuticals has a 1-year low of $5.42 and a 1-year high of $25.95.
ILLEGAL ACTIVITY WARNING: “-$0.64 Earnings Per Share Expected for Zynerba Pharmaceuticals Inc (ZYNE) This Quarter” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this story on another publication, it was copied illegally and reposted in violation of international trademark & copyright law. The legal version of this story can be accessed at https://ledgergazette.com/2018/01/13/0-64-earnings-per-share-expected-for-zynerba-pharmaceuticals-inc-zyne-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Zynerba Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynerba Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.