Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) – Roth Capital reduced their FY2016 earnings estimates for shares of Zynerba Pharmaceuticals in a research report issued to clients and investors on Tuesday. Roth Capital analyst M. Higgins now forecasts that the firm will earn ($2.60) per share for the year, down from their prior estimate of ($2.38). Roth Capital has a “Buy” rating and a $25.00 price objective on the stock. Roth Capital also issued estimates for Zynerba Pharmaceuticals’ Q4 2016 earnings at ($0.73) EPS, Q1 2017 earnings at ($0.72) EPS, Q2 2017 earnings at ($0.72) EPS, Q3 2017 earnings at ($0.50) EPS, Q4 2017 earnings at ($0.49) EPS, FY2017 earnings at ($2.38) EPS, FY2018 earnings at ($1.69) EPS, FY2019 earnings at ($0.90) EPS and FY2020 earnings at $0.33 EPS.

Several other equities research analysts have also issued reports on ZYNE. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of Zynerba Pharmaceuticals in a research note on Tuesday, July 26th. Canaccord Genuity set a $35.00 price objective on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, August 16th. Zacks Investment Research lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 16th. Finally, HC Wainwright began coverage on Zynerba Pharmaceuticals in a research note on Friday, October 7th. They set a “buy” rating and a $22.00 price target for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Zynerba Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $27.64.

Earnings History and Estimates for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

Zynerba Pharmaceuticals (NASDAQ:ZYNE) traded up 2.19% during trading on Thursday, hitting $14.49. 46,060 shares of the company traded hands. Zynerba Pharmaceuticals has a 12-month low of $4.64 and a 12-month high of $21.56. The stock has a 50 day moving average price of $12.52 and a 200 day moving average price of $9.64. The company’s market capitalization is $144.23 billion.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its quarterly earnings results on Monday, November 14th. The company reported ($0.67) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.69) by $0.02. Zynerba Pharmaceuticals had a negative net margin of 5,681.48% and a negative return on equity of 61.69%.

A number of hedge funds have recently added to or reduced their stakes in the stock. KCG Holdings Inc. acquired a new stake in Zynerba Pharmaceuticals during the third quarter valued at approximately $214,000. Morgan Stanley increased 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 worth $233,000 after buying an additional 7,768 shares during the last quarter. Northern Trust Corp purchased a new position in shares of Zynerba Pharmaceuticals during the third quarter worth $297,000. Alpine Partners VI LLC purchased a new position in shares of Zynerba Pharmaceuticals during the second quarter worth $113,000. Finally, Emerald Advisers Inc. PA increased 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 worth $1,209,000 after buying an additional 9,329 shares during the last quarter. 23.77% of the stock is owned by institutional investors and hedge funds.

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. The Company intends to study ZYN002 in patients with refractory epilepsy, osteoarthritis and Fragile X syndrome.

5 Day Chart for NASDAQ:ZYNE

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