TIAA CREF Investment Management LLC acquired a new stake in shares of Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 30,375 shares of the company’s stock, valued at approximately $515,000. TIAA CREF Investment Management LLC owned about 0.23% of Zynerba Pharmaceuticals at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of ZYNE. Bank of New York Mellon Corp lifted its holdings in shares of Zynerba Pharmaceuticals by 5.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,165 shares of the company’s stock valued at $245,000 after purchasing an additional 635 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Zynerba Pharmaceuticals by 53.9% during the 1st quarter. Vanguard Group Inc. now owns 425,811 shares of the company’s stock valued at $8,559,000 after purchasing an additional 149,094 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Zynerba Pharmaceuticals by 57.6% during the 1st quarter. Geode Capital Management LLC now owns 76,015 shares of the company’s stock valued at $1,527,000 after purchasing an additional 27,789 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Zynerba Pharmaceuticals by 220.3% during the 1st quarter. Morgan Stanley now owns 57,752 shares of the company’s stock valued at $1,161,000 after purchasing an additional 39,722 shares during the last quarter. Finally, Rothschild Investment Corp IL lifted its holdings in shares of Zynerba Pharmaceuticals by 25.1% during the 2nd quarter. Rothschild Investment Corp IL now owns 57,070 shares of the company’s stock valued at $968,000 after purchasing an additional 11,450 shares during the last quarter. Hedge funds and other institutional investors own 26.95% of the company’s stock.
Several analysts have recently commented on the company. Cantor Fitzgerald reiterated a “hold” rating and set a $4.00 price objective on shares of Zynerba Pharmaceuticals in a report on Thursday, September 28th. Canaccord Genuity set a $18.00 price objective on Zynerba Pharmaceuticals and gave the company a “buy” rating in a report on Monday. Jefferies Group lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating and decreased their price objective for the company from $12.00 to $7.00 in a report on Tuesday, August 15th. HC Wainwright set a $7.00 target price on Zynerba Pharmaceuticals and gave the company a “hold” rating in a research report on Tuesday, August 15th. Finally, Maxim Group downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $15.00.
Zynerba Pharmaceuticals, Inc. (ZYNE) traded down $1.21 during midday trading on Monday, hitting $13.37. The company had a trading volume of 1,219,493 shares, compared to its average volume of 642,984. Zynerba Pharmaceuticals, Inc. has a 52-week low of $5.42 and a 52-week high of $25.95.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its earnings results on Tuesday, November 14th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.05). During the same quarter in the previous year, the business earned ($0.67) earnings per share. research analysts predict that Zynerba Pharmaceuticals, Inc. will post -2.49 earnings per share for the current year.
In related news, major shareholder Michael Rapp purchased 25,745 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were bought at an average cost of $9.94 per share, with a total value of $255,905.30. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.91% of the stock is currently owned by company insiders.
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Zynerba Pharmaceuticals 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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