Zynerba Pharmaceuticals (NASDAQ:ZYNE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.
According to Zacks, “Zynerba Pharmaceuticals, Inc. is a specialty pharmaceutical company which focuses on developing and commercializing proprietary synthetic cannabinoid therapeutics formulated for transdermal delivery. Its product candidates which are in clinical trial stage include ZYN002 and ZYN001 synthetic transdermal cannabinoid therapeutics for indications including refractory epilepsy, Fragile X syndrome, osteoarthritis, fibromyalgia and peripheral neuropathic pain. Zynerba Pharmaceuticals, Inc. is headquartered in Devon, Pennsylvania. “
Other analysts also recently issued research reports about the company. Oppenheimer downgraded Zynerba Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, August 14th. Canaccord Genuity set a $18.00 price objective on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Monday. HC Wainwright set a $7.00 target price on Zynerba Pharmaceuticals and gave the company a “hold” rating in a report on Tuesday, August 15th. Jefferies Group downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $12.00 to $7.00 in a research note on Tuesday, August 15th. Finally, Roth Capital set a $15.00 price objective on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Sunday, October 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $15.00.
Shares of Zynerba Pharmaceuticals (ZYNE) traded up $0.22 during trading on Friday, reaching $11.78. 415,200 shares of the company’s stock were exchanged, compared to its average volume of 642,045. Zynerba Pharmaceuticals has a 12-month low of $5.42 and a 12-month high of $25.95.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings data on Tuesday, November 14th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.05). During the same quarter last year, the company posted ($0.67) EPS. equities analysts predict that Zynerba Pharmaceuticals will post -2.49 EPS for the current fiscal year.
In other news, major shareholder Michael Rapp purchased 25,745 shares of the company’s stock in a transaction on Monday, October 23rd. The shares were acquired at an average price of $9.94 per share, for a total transaction of $255,905.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 9.91% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Nationwide Fund Advisors acquired a new position in Zynerba Pharmaceuticals in the 2nd quarter valued at $110,000. The Manufacturers Life Insurance Company purchased a new stake in Zynerba Pharmaceuticals during the 2nd quarter worth $158,000. New York State Common Retirement Fund acquired a new stake in Zynerba Pharmaceuticals during the second quarter worth about $207,000. Parametric Portfolio Associates LLC bought a new stake in Zynerba Pharmaceuticals during the second quarter worth approximately $223,000. Finally, Zeke Capital Advisors LLC bought a new stake in Zynerba Pharmaceuticals during the third quarter worth approximately $114,000. Institutional investors own 26.95% 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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