Zynerba Pharmaceuticals (NASDAQ:ZYNE) – Investment analysts at Cantor Fitzgerald cut their FY2018 EPS estimates for Zynerba Pharmaceuticals in a report issued on Tuesday, March 13th, according to Zacks Investment Research. Cantor Fitzgerald analyst E. Piros now forecasts that the company will post earnings per share of ($2.57) for the year, down from their prior estimate of ($2.29). Cantor Fitzgerald currently has a “Buy” rating and a $20.00 target price on the stock.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its earnings results on Monday, March 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.60). During the same quarter last year, the firm earned ($0.71) earnings per share.
A number of other brokerages have also recently weighed in on ZYNE. Zacks Investment Research raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, December 8th. Ladenburg Thalmann assumed coverage on shares of Zynerba Pharmaceuticals in a research report on Monday, January 29th. They set a “buy” rating and a $25.50 price target on the stock. Oppenheimer reaffirmed a “hold” rating on shares of Zynerba Pharmaceuticals in a research report on Wednesday, January 3rd. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price target on shares of Zynerba Pharmaceuticals in a research report on Thursday, February 1st. Finally, Seaport Global Securities assumed coverage on shares of Zynerba Pharmaceuticals in a research report on Friday, January 26th. They set a “buy” rating and a $16.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Zynerba Pharmaceuticals has an average rating of “Buy” and a consensus target price of $17.86.
Shares of ZYNE traded down $0.31 during mid-day trading on Friday, hitting $8.82. The company had a trading volume of 153,029 shares, compared to its average volume of 315,577. Zynerba Pharmaceuticals has a 1-year low of $5.42 and a 1-year high of $25.95. The stock has a market capitalization of $123.82, a PE ratio of -3.56 and a beta of 4.94.
In other news, major shareholder Michael Rapp acquired 10,000 shares of the company’s stock in a transaction dated Thursday, March 22nd. The shares were bought at an average price of $9.28 per share, for a total transaction of $92,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.91% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Nationwide Fund Advisors purchased a new stake in shares of Zynerba Pharmaceuticals during the second quarter valued at approximately $110,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Zynerba Pharmaceuticals during the second quarter valued at approximately $158,000. New York State Common Retirement Fund purchased a new stake in shares of Zynerba Pharmaceuticals during the second quarter valued at approximately $207,000. Parametric Portfolio Associates LLC purchased a new stake in shares of Zynerba Pharmaceuticals during the second quarter valued at approximately $223,000. Finally, Zeke Capital Advisors LLC purchased a new stake in shares of Zynerba Pharmaceuticals during the third quarter valued at approximately $114,000. Institutional investors own 28.92% of the company’s stock.
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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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