Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) has been assigned a consensus recommendation of “Buy” from the seven research firms that are covering the company. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $30.83.

ZYNE has been the subject of several recent research reports. Oppenheimer Holdings Inc. reissued a “buy” rating and set a $29.00 price objective on shares of Zynerba Pharmaceuticals in a report on Tuesday, June 28th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $42.00 price target on shares of Zynerba Pharmaceuticals in a research note on Tuesday, July 26th. Zacks Investment Research cut Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 16th. Canaccord Genuity reaffirmed a “buy” rating and issued a $35.00 price target on shares of Zynerba Pharmaceuticals in a research note on Wednesday, September 7th. Finally, HC Wainwright started coverage on Zynerba Pharmaceuticals in a research note on Friday. They issued a “buy” rating and a $22.00 price target for the company.

In related news, insider Suzanne M. Hanlon sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $10.53, for a total value of $31,590.00. Following the completion of the transaction, the insider now directly owns 39,893 shares in the company, valued at approximately $420,073.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.02% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Cormorant Asset Management LLC raised its position in shares of Zynerba Pharmaceuticals by 33.2% in the first quarter. Cormorant Asset Management LLC now owns 475,035 shares of the company’s stock valued at $4,489,000 after buying an additional 118,435 shares in the last quarter. Emerald Advisers Inc. PA raised its position in shares of Zynerba Pharmaceuticals by 5.6% in the second quarter. Emerald Advisers Inc. PA now owns 176,514 shares of the company’s stock valued at $1,209,000 after buying an additional 9,329 shares in the last quarter. State Street Corp raised its position in shares of Zynerba Pharmaceuticals by 1.5% in the first quarter. State Street Corp now owns 37,629 shares of the company’s stock valued at $356,000 after buying an additional 562 shares in the last quarter. Finally, Alpine Partners VI LLC acquired a new position in shares of Zynerba Pharmaceuticals during the second quarter valued at about $113,000. Institutional investors and hedge funds own 23.78% of the company’s stock.

Shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) traded up 4.7148% during trading on Friday, hitting $13.8433. 681,457 shares of the stock traded hands. The company has a 50 day moving average of $11.00 and a 200-day moving average of $9.13. Zynerba Pharmaceuticals has a 1-year low of $4.64 and a 1-year high of $21.56. The company’s market cap is $127.34 million.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its quarterly earnings data on Thursday, August 11th. The company reported ($0.70) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by $0.18. Zynerba Pharmaceuticals had a negative return on equity of 51.49% and a negative net margin of 5,681.48%. On average, equities analysts anticipate that Zynerba Pharmaceuticals will post ($2.54) EPS for the current fiscal year.

About Zynerba Pharmaceuticals

Zynerba Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing and commercializing synthetic cannabinoid therapeutics formulated for transdermal delivery. The Company is evaluating approximately two product candidates, ZYN002 and ZYN001, in over five indications, including refractory epilepsy, Fragile X syndrome (FXS), osteoarthritis (OA), fibromyalgia and peripheral neuropathic pain.

5 Day Chart for NASDAQ:ZYNE

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