Zynerba Pharmaceuticals (NASDAQ:ZYNE) – Research analysts at Jefferies Group boosted their Q1 2018 earnings estimates for shares of Zynerba Pharmaceuticals in a report released on Monday, March 12th, Zacks Investment Research reports. Jefferies Group analyst B. Amin now anticipates that the company will post earnings of ($0.62) per share for the quarter, up from their prior estimate of ($0.66). Jefferies Group also issued estimates for Zynerba Pharmaceuticals’ Q2 2018 earnings at ($0.62) EPS, Q3 2018 earnings at ($0.63) EPS, Q4 2018 earnings at ($0.64) EPS, FY2018 earnings at ($2.51) EPS, FY2019 earnings at ($2.28) EPS, FY2020 earnings at ($3.07) EPS and FY2021 earnings at ($1.78) EPS.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its earnings results on Monday, March 12th. The company reported ($0.60) earnings per share for the quarter, hitting the consensus estimate of ($0.60). During the same quarter in the previous year, the company posted ($0.71) earnings per share.
Several other brokerages have also recently commented on ZYNE. Oppenheimer reaffirmed a “hold” rating on shares of Zynerba Pharmaceuticals in a research note on Wednesday, January 3rd. Cantor Fitzgerald set a $17.00 target price on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, January 3rd. HC Wainwright reiterated a “buy” rating and set a $23.00 target price on shares of Zynerba Pharmaceuticals in a research report on Thursday, February 1st. Ladenburg Thalmann began coverage on shares of Zynerba Pharmaceuticals in a research report on Monday, January 29th. They set a “buy” rating and a $25.50 target price for the company. Finally, Seaport Global Securities began coverage on shares of Zynerba Pharmaceuticals in a report on Friday, January 26th. They issued a “buy” rating and a $16.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. Zynerba Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $17.86.
NASDAQ:ZYNE traded down $0.31 during mid-day trading on Thursday, hitting $8.82. 153,029 shares of the stock traded hands, compared to its average volume of 315,577. The stock has a market cap of $119.61, a P/E ratio of -3.56 and a beta of 4.94. Zynerba Pharmaceuticals has a 12-month low of $5.42 and a 12-month high of $25.95.
In other Zynerba Pharmaceuticals news, major shareholder Michael Rapp bought 10,000 shares of Zynerba Pharmaceuticals stock in a transaction dated Thursday, March 22nd. The shares were purchased at an average cost of $9.28 per share, with a total value of $92,800.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 9.91% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. purchased a new stake in shares of Zynerba Pharmaceuticals in the 4th quarter worth about $264,000. BlackRock Inc. grew its position in shares of Zynerba Pharmaceuticals by 1.1% in the 4th quarter. BlackRock Inc. now owns 678,697 shares of the company’s stock worth $8,497,000 after buying an additional 7,091 shares during the period. Perceptive Advisors LLC grew 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 buying an additional 230,700 shares during the period. Cowen Inc. purchased a new stake in shares of Zynerba Pharmaceuticals in the 3rd quarter worth about $167,000. Finally, RTW Investments LP purchased a new stake in shares of Zynerba Pharmaceuticals in the 3rd quarter worth about $1,672,000. 28.92% of the stock is currently owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY NOTICE: “Equities Analysts Issue Forecasts for Zynerba Pharmaceuticals’ Q1 2018 Earnings (NASDAQ:ZYNE)” was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this news story on another site, it was illegally copied and republished in violation of international copyright law. The legal version of this news story can be viewed at https://www.dispatchtribunal.com/2018/04/08/zynerba-pharmaceuticals-inc-to-post-q1-2018-earnings-of-0-62-per-share-jefferies-group-forecasts-zyne.html.
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.
Get a free copy of the Zacks research report on Zynerba Pharmaceuticals (ZYNE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Zynerba Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynerba Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.