Zynerba Pharmaceuticals Inc. (ZYNE) Now Covered by HC Wainwright
Equities research analysts at HC Wainwright started coverage on shares of Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) in a research note issued to investors on Friday. The firm set a “buy” rating and a $22.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 66.41% from the stock’s previous close.
A number of other research firms also recently weighed in on ZYNE. Zacks Investment Research upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a research report on Tuesday, July 19th. Piper Jaffray Cos. restated an “overweight” rating and issued a $42.00 target price on shares of Zynerba Pharmaceuticals in a research report on Friday, August 12th. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $29.00 target price on shares of Zynerba Pharmaceuticals in a research report on Tuesday, June 28th. Canaccord Genuity restated a “buy” rating and issued a $35.00 target price on shares of Zynerba Pharmaceuticals in a research report on Tuesday, August 16th. Finally, Roth Capital set a $25.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, September 6th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $27.64.
Shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) opened at 13.22 on Friday. Zynerba Pharmaceuticals has a 12-month low of $4.64 and a 12-month high of $21.56. The firm’s market cap is $121.61 million. The stock’s 50 day moving average price is $11.00 and its 200 day moving average price is $9.13.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings data on Thursday, August 11th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 research analysts predict that Zynerba Pharmaceuticals will post ($2.54) EPS for the current fiscal year.
In other news, insider Suzanne M. Hanlon sold 3,000 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $10.53, for a total transaction of $31,590.00. Following the completion of the sale, the insider now 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 this hyperlink. Insiders own 10.02% of the company’s stock.
Several large investors have recently made changes to their positions in ZYNE. Cormorant Asset Management LLC increased its stake 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 worth $4,489,000 after buying an additional 118,435 shares during the period. Emerald Advisers Inc. PA raised its stake in Zynerba Pharmaceuticals by 5.6% in the second quarter. Emerald Advisers Inc. PA now owns 176,514 shares of the company’s stock worth $1,209,000 after buying an additional 9,329 shares during the last quarter. State Street Corp raised its stake in Zynerba Pharmaceuticals by 1.5% in the first quarter. State Street Corp now owns 37,629 shares of the company’s stock worth $356,000 after buying an additional 562 shares during the last quarter. Finally, Alpine Partners VI LLC acquired a new stake in Zynerba Pharmaceuticals during the second quarter worth about $113,000. Institutional investors own 23.78% of the company’s stock.
Zynerba Pharmaceuticals Company Profile
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.
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