Brokerages expect Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) to announce earnings of ($0.60) per share for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for Zynerba Pharmaceuticals’ earnings. The highest EPS estimate is ($0.56) and the lowest is ($0.66). Zynerba Pharmaceuticals reported earnings of ($0.71) per share in the same quarter last year, which would suggest a positive year over year growth rate of 15.5%. The firm is expected to announce its next quarterly earnings report on Monday, March 26th.
According to Zacks, analysts expect that Zynerba Pharmaceuticals will report full-year earnings of ($2.48) per share for the current fiscal year, with EPS estimates ranging from ($2.54) to ($2.43). For the next fiscal year, analysts forecast that the company will report earnings of ($2.32) per share, with EPS estimates ranging from ($2.64) to ($2.06). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.05). During the same quarter in the prior year, the firm posted ($0.67) earnings per share.
ZYNE has been the topic of a number of research analyst reports. Ladenburg Thalmann Financial Services initiated coverage on Zynerba Pharmaceuticals in a report on Monday. They set a “buy” rating and a $25.50 target price on the stock. Seaport Global Securities initiated coverage on Zynerba Pharmaceuticals in a report on Friday, January 26th. They set a “buy” rating and a $16.00 target price on the stock. Cantor Fitzgerald set a $17.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Oppenheimer reiterated a “hold” rating on shares of Zynerba Pharmaceuticals in a report on Wednesday, January 3rd. Finally, Zacks Investment Research upgraded Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, December 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Zynerba Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $16.05.
In related news, major shareholder Michael Rapp purchased 15,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were purchased at an average cost of $12.99 per share, with a total value of $194,850.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.91% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Perceptive Advisors LLC boosted its position in shares of Zynerba Pharmaceuticals by 230.7% in the 3rd quarter. Perceptive Advisors LLC now owns 130,700 shares of the company’s stock worth $1,320,000 after purchasing an additional 230,700 shares in the last quarter. Cowen Inc. bought a new stake in shares of Zynerba Pharmaceuticals in the 3rd quarter worth approximately $167,000. RTW Investments LP bought a new stake in shares of Zynerba Pharmaceuticals in the 3rd quarter worth approximately $1,672,000. Granite Point Capital Management L.P. boosted its position in shares of Zynerba Pharmaceuticals by 47.9% in the 3rd quarter. Granite Point Capital Management L.P. now owns 200,000 shares of the company’s stock worth $1,672,000 after purchasing an additional 64,800 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Zynerba Pharmaceuticals in the 3rd quarter worth approximately $263,000. 26.42% of the stock is currently owned by hedge funds and other institutional investors.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) opened at $12.09 on Thursday. Zynerba Pharmaceuticals has a twelve month low of $5.42 and a twelve month high of $25.95. The stock has a market capitalization of $163.87 and a PE ratio of -4.67.
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About Zynerba Pharmaceuticals
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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