ValuEngine lowered shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) from a sell rating to a strong sell rating in a research report sent to investors on Thursday morning, ValuEngine reports.
Several other research firms also recently commented on ZYNE. Roth Capital began coverage on shares of Zynerba Pharmaceuticals in a research report on Tuesday, December 31st. They issued a buy rating and a $12.00 target price for the company. Needham & Company LLC began coverage on shares of Zynerba Pharmaceuticals in a research report on Monday, October 21st. They issued a buy rating and a $18.00 target price for the company. Finally, Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a hold rating to a sell rating in a research report on Saturday, November 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $16.29.
ZYNE stock traded down $0.19 during trading hours on Thursday, hitting $5.38. The company’s stock had a trading volume of 758,967 shares, compared to its average volume of 663,698. The company has a market capitalization of $129.92 million, a PE ratio of -3.61 and a beta of 4.56. Zynerba Pharmaceuticals has a 12 month low of $3.65 and a 12 month high of $16.47. The stock has a 50 day moving average price of $5.80 and a two-hundred day moving average price of $8.50.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its earnings results on Wednesday, November 6th. The company reported ($0.44) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.08. On average, analysts predict that Zynerba Pharmaceuticals will post -1.52 earnings per share for the current year.
Institutional investors have recently modified their holdings of the company. Penserra Capital Management LLC acquired a new stake in shares of Zynerba Pharmaceuticals in the third quarter worth $141,000. State Street Corp lifted its stake in shares of Zynerba Pharmaceuticals by 8.9% in the third quarter. State Street Corp now owns 383,997 shares of the company’s stock worth $2,903,000 after buying an additional 31,345 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Zynerba Pharmaceuticals in the third quarter worth $170,000. Commonwealth Equity Services LLC lifted its stake in shares of Zynerba Pharmaceuticals by 34.1% in the third quarter. Commonwealth Equity Services LLC now owns 18,092 shares of the company’s stock worth $136,000 after buying an additional 4,600 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Zynerba Pharmaceuticals by 127.8% in the second quarter. Vanguard Group Inc. now owns 1,232,456 shares of the company’s stock worth $16,700,000 after buying an additional 691,342 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.
Zynerba Pharmaceuticals Company Profile
Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. It focuses on developing pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. The company is developing Zygel, a transdermal cannabidiol gel, which is in Phase II clinical trial for treating children and adolescent patients with developmental and epileptic encephalopathies; is in Phase II/III clinical trial to treat children and adolescent patients with fragile X syndrome; and is in Phase II clinical trial for treating children and adolescent patients with autism spectrum disorder.
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