Zynerba Pharmaceuticals Inc. (ZYNE) Releases Earnings Results, Beats Estimates By $0.02 EPS
Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) issued its earnings results on Monday. The company reported ($0.67) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.02. Zynerba Pharmaceuticals had a negative return on equity of 51.49% and a negative net margin of 5,681.48%.
Shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) opened at 13.55 on Monday. The stock’s 50 day moving average price is $12.45 and its 200 day moving average price is $9.51. Zynerba Pharmaceuticals has a one year low of $4.64 and a one year high of $21.56. The company’s market cap is $124.65 million.
A number of brokerages recently commented on ZYNE. Zacks Investment Research lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 16th. Canaccord Genuity restated a “buy” rating and issued a $35.00 target price on shares of Zynerba Pharmaceuticals in a research note on Tuesday, August 16th. Piper Jaffray Cos. restated an “overweight” rating and issued a $42.00 target price on shares of Zynerba Pharmaceuticals in a research note on Friday, August 12th. HC Wainwright assumed coverage on Zynerba Pharmaceuticals in a research note on Friday, October 7th. They set a “buy” rating and a $22.00 price objective for the company. Finally, Roth Capital set a $25.00 price objective on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, September 6th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Zynerba Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $27.64.
In related news, insider Suzanne M. Hanlon sold 3,000 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 39,893 shares in the company, valued at approximately $420,073.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.02% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. KCG Holdings Inc. purchased a new stake in Zynerba Pharmaceuticals during the third quarter valued at about $214,000. Morgan Stanley boosted its position in shares of Zynerba Pharmaceuticals by 76.6% in the third quarter. Morgan Stanley now owns 17,907 shares of the company’s stock valued at $233,000 after buying an additional 7,768 shares in the last quarter. Finally, Northern Trust Corp bought a new position in shares of Zynerba Pharmaceuticals during the third quarter valued at $297,000. Institutional investors and hedge funds own 23.77% 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. The Company intends to study ZYN002 in patients with refractory epilepsy, osteoarthritis and Fragile X syndrome.
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