Zynerba Pharmaceuticals (NASDAQ:ZYNE)‘s stock had its “buy” rating restated by research analysts at LADENBURG THALM/SH SH in a report released on Monday, AnalystRatings.com reports. They presently have a $26.00 price objective on the stock.
A number of other research firms have also weighed in on ZYNE. ValuEngine upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Cantor Fitzgerald increased their price objective on Zynerba Pharmaceuticals from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Zacks Investment Research reiterated a “buy” rating and set a $6.25 price objective on shares of Zynerba Pharmaceuticals in a report on Saturday, May 30th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.00 price objective on shares of Zynerba Pharmaceuticals in a report on Thursday, April 16th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Zynerba Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $15.88.
ZYNE opened at $3.37 on Monday. Zynerba Pharmaceuticals has a one year low of $2.55 and a one year high of $15.70. The stock has a market cap of $157.19 million, a price-to-earnings ratio of -2.15 and a beta of 3.12. The stock’s 50 day moving average price is $5.47 and its 200-day moving average price is $4.85.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.03). As a group, sell-side analysts expect that Zynerba Pharmaceuticals will post -1.75 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in ZYNE. BNP Paribas Arbitrage SA grew its position in Zynerba Pharmaceuticals by 114.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,095 shares of the company’s stock worth $27,000 after purchasing an additional 3,793 shares during the period. Citigroup Inc. grew its position in Zynerba Pharmaceuticals by 93.4% during the 4th quarter. Citigroup Inc. now owns 6,940 shares of the company’s stock worth $42,000 after purchasing an additional 3,352 shares during the period. Parametric Portfolio Associates LLC acquired a new stake in Zynerba Pharmaceuticals during the 1st quarter worth about $54,000. AQR Capital Management LLC grew its position in Zynerba Pharmaceuticals by 10.2% during the 1st quarter. AQR Capital Management LLC now owns 27,223 shares of the company’s stock worth $104,000 after purchasing an additional 2,526 shares during the period. Finally, California Public Employees Retirement System acquired a new stake in Zynerba Pharmaceuticals during the 4th quarter worth about $109,000. 36.96% of the stock is currently owned by institutional investors.
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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