Shares of Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) have earned a consensus rating of “Hold” from the fourteen brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $17.56.
Several research firms recently commented on ZYNE. HC Wainwright reaffirmed a “buy” rating and set a $23.00 target price on shares of Zynerba Pharmaceuticals in a report on Thursday, February 1st. Ladenburg Thalmann began coverage on Zynerba Pharmaceuticals in a report on Monday, January 29th. They set a “buy” rating and a $25.50 target price on the stock. Seaport Global Securities began coverage on Zynerba Pharmaceuticals in a report on Friday, January 26th. They issued a “buy” rating and a $16.00 price objective on the stock. Cantor Fitzgerald began coverage on Zynerba Pharmaceuticals in a report on Monday, March 5th. They issued a “buy” rating and a $17.00 price objective on the stock. Finally, ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd.
In other Zynerba Pharmaceuticals news, major shareholder Michael Rapp acquired 10,000 shares of the company’s stock in a transaction on Thursday, March 22nd. The shares were bought at an average cost of $9.28 per share, with a total value of $92,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.67% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Zynerba Pharmaceuticals by 385.6% in the first quarter. JPMorgan Chase & Co. now owns 12,217 shares of the company’s stock worth $106,000 after acquiring an additional 9,701 shares during the last quarter. Alliancebernstein L.P. purchased a new position in Zynerba Pharmaceuticals during the fourth quarter worth approximately $264,000. Wells Fargo & Company MN lifted its position in Zynerba Pharmaceuticals by 3,759.5% during the third quarter. Wells Fargo & Company MN now owns 34,079 shares of the company’s stock worth $285,000 after buying an additional 33,196 shares in the last quarter. Alps Advisors Inc. lifted its position in Zynerba Pharmaceuticals by 142.1% during the first quarter. Alps Advisors Inc. now owns 36,356 shares of the company’s stock worth $316,000 after buying an additional 21,337 shares in the last quarter. Finally, A.R.T. Advisors LLC lifted its position in Zynerba Pharmaceuticals by 33.7% during the first quarter. A.R.T. Advisors LLC now owns 86,877 shares of the company’s stock worth $754,000 after buying an additional 21,879 shares in the last quarter. 21.84% of the stock is currently owned by hedge funds and other institutional investors.
Zynerba Pharmaceuticals traded down $0.15, hitting $10.28, during midday trading on Thursday, Marketbeat reports. 4,152 shares of the company were exchanged, compared to its average volume of 225,396. The firm has a market cap of $140.23 million, a price-to-earnings ratio of -4.10 and a beta of 4.87. Zynerba Pharmaceuticals has a fifty-two week low of $5.42 and a fifty-two week high of $20.73.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its earnings results on Tuesday, May 8th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.23). sell-side analysts anticipate that Zynerba Pharmaceuticals will post -2.93 earnings per share for the current fiscal year.
Zynerba Pharmaceuticals Company Profile
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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