Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) has earned a consensus recommendation of “Hold” from the fourteen analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $17.69.
Several research firms have commented on ZYNE. Canaccord Genuity set a $18.00 price target on Zynerba Pharmaceuticals and gave the company a “buy” rating in a report on Monday, December 4th. Zacks Investment Research cut Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 18th. Cantor Fitzgerald set a $17.00 price target on Zynerba Pharmaceuticals and gave the company a “buy” rating in a report on Monday, December 4th. Oppenheimer reaffirmed a “hold” rating on shares of Zynerba Pharmaceuticals in a report on Wednesday, January 3rd. Finally, Piper Jaffray Companies upped their price objective on Zynerba Pharmaceuticals from $16.00 to $20.00 in a research note on Tuesday, November 14th.
Zynerba Pharmaceuticals (NASDAQ ZYNE) traded down $0.13 during trading on Tuesday, reaching $11.36. The company’s stock had a trading volume of 191,200 shares, compared to its average volume of 337,045. The firm has a market cap of $155.73, a PE ratio of -4.39 and a beta of 5.20. Zynerba Pharmaceuticals has a 12-month low of $5.42 and a 12-month high of $25.95.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings results on Tuesday, November 14th. The company reported ($0.63) 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. equities analysts expect that Zynerba Pharmaceuticals will post -2.47 earnings per share for the current year.
In related news, major shareholder Michael Rapp acquired 15,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were bought at an average cost of $12.99 per share, for a total transaction of $194,850.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 9.91% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Zynerba Pharmaceuticals by 1.1% during the 4th quarter. BlackRock Inc. now owns 678,697 shares of the company’s stock worth $8,497,000 after acquiring an additional 7,091 shares during the last quarter. Vanguard Group Inc. grew its position in Zynerba Pharmaceuticals by 12.4% during the 2nd quarter. Vanguard Group Inc. now owns 478,763 shares of the company’s stock worth $8,125,000 after acquiring an additional 52,952 shares during the last quarter. RTW Investments LP bought a new stake in Zynerba Pharmaceuticals during the 3rd quarter worth approximately $1,672,000. Granite Point Capital Management L.P. grew its position in Zynerba Pharmaceuticals by 47.9% during the 3rd quarter. Granite Point Capital Management L.P. now owns 200,000 shares of the company’s stock worth $1,672,000 after acquiring an additional 64,800 shares during the last quarter. Finally, State Street Corp bought a new stake in Zynerba Pharmaceuticals during the 2nd quarter worth approximately $2,698,000. Institutional investors and hedge funds own 26.20% of the company’s stock.
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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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