Zynerba Pharmaceuticals (NASDAQ:ZYNE) – Equities research analysts at Seaport Global Securities dropped their Q2 2018 earnings per share (EPS) estimates for Zynerba Pharmaceuticals in a research note issued on Tuesday, May 15th. Seaport Global Securities analyst V. Bernardino now forecasts that the company will post earnings of ($0.84) per share for the quarter, down from their previous estimate of ($0.61). Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Zynerba Pharmaceuticals’ Q3 2018 earnings at ($0.77) EPS, Q4 2018 earnings at ($0.85) EPS, FY2018 earnings at ($3.38) EPS, FY2019 earnings at ($3.12) EPS, FY2020 earnings at ($3.34) EPS, FY2021 earnings at ($4.37) EPS and FY2022 earnings at ($2.69) EPS.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its earnings results on Tuesday, May 8th. The company reported ($0.91) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by ($0.23).
Several other equities analysts also recently commented on ZYNE. Ladenburg Thalmann initiated coverage on Zynerba Pharmaceuticals in a research report on Monday, January 29th. They set a “buy” rating and a $25.50 target price for the company. HC Wainwright restated a “buy” rating and set a $23.00 target price on shares of Zynerba Pharmaceuticals in a research report on Thursday, February 1st. Cantor Fitzgerald initiated coverage on Zynerba Pharmaceuticals in a research report on Monday, March 5th. They set a “buy” rating and a $17.00 target price for the company. Oppenheimer reaffirmed a “hold” rating on shares of Zynerba Pharmaceuticals in a report on Tuesday, March 13th. Finally, Zacks Investment Research raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Thursday, March 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $17.86.
Zynerba Pharmaceuticals stock opened at $10.28 on Thursday. The company has a market cap of $127.48 million, a P/E ratio of -4.15 and a beta of 4.87. Zynerba Pharmaceuticals has a one year low of $5.42 and a one year high of $20.73.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. acquired a new stake in shares of Zynerba Pharmaceuticals in the 4th quarter valued at $264,000. Wells Fargo & Company MN increased its stake in shares of Zynerba Pharmaceuticals by 3,759.5% in the 3rd quarter. Wells Fargo & Company MN now owns 34,079 shares of the company’s stock valued at $285,000 after buying an additional 33,196 shares during the period. BlackRock Inc. increased its stake in shares of Zynerba Pharmaceuticals by 1.1% in the 4th quarter. BlackRock Inc. now owns 678,697 shares of the company’s stock valued at $8,497,000 after buying an additional 7,091 shares during the period. Alps Advisors Inc. increased its stake in shares of Zynerba Pharmaceuticals by 142.1% in the 1st quarter. Alps Advisors Inc. now owns 36,356 shares of the company’s stock valued at $316,000 after buying an additional 21,337 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of Zynerba Pharmaceuticals in the 1st quarter valued at $903,000. 28.94% of the stock is owned by institutional investors.
In other Zynerba Pharmaceuticals news, major shareholder Michael Rapp purchased 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 2nd. The stock was purchased at an average cost of $10.46 per share, with a total value of $156,900.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 12.67% of the company’s stock.
About Zynerba Pharmaceuticals
Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. The company focuses on developing and commercializing pharmaceutically-produced transdermal cannabinoid treatments for rare or near-rare neuropsychiatric disorders. Its product candidates include ZYN002, which completed Phase II clinical trial for pediatric and adolescent patients with fragile X syndrome, pediatric and adolescent patients with developmental and epileptic encephalopathies, and adult patients with refractory epileptic focal seizures; and ZYN001 that is in Phase I clinical trial to treat Tourette syndrome.
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