Zynerba Pharmaceuticals Inc. (ZYNE) Earns Buy Rating from HC Wainwright
Other analysts have also recently issued research reports about the company. Zacks Investment Research raised Zynerba Pharmaceuticals from a hold rating to a buy rating and set a $8.50 price objective on the stock in a report on Tuesday, July 19th. Canaccord Genuity reaffirmed a buy rating and issued a $35.00 price target on shares of Zynerba Pharmaceuticals in a report on Tuesday, August 16th. Roth Capital set a $25.00 price target on Zynerba Pharmaceuticals and gave the company a buy rating in a report on Tuesday, September 6th. Finally, Piper Jaffray Cos. reaffirmed an overweight rating and issued a $42.00 price target on shares of Zynerba Pharmaceuticals in a report on Friday, August 12th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. 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 15.73 on Tuesday. The company’s market capitalization is $144.70 million. Zynerba Pharmaceuticals has a one year low of $4.64 and a one year high of $21.56. The company has a 50-day moving average price of $12.58 and a 200 day moving average price of $9.68.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings data on Monday, November 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.02. Zynerba Pharmaceuticals had a negative return on equity of 63.78% and a negative net margin of 5,681.48%. Equities analysts anticipate that Zynerba Pharmaceuticals will post ($2.60) EPS for the current year.
A number of institutional investors have recently bought and sold shares of ZYNE. Emerald Advisers Inc. PA raised its stake 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 in the last quarter. Alpine Partners VI LLC acquired a new stake in shares of Zynerba Pharmaceuticals during the second quarter worth $113,000. Cormorant Asset Management LLC raised 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 in the last quarter. KCG Holdings Inc. acquired a new stake in shares of Zynerba Pharmaceuticals during the third quarter worth $214,000. Finally, Morgan Stanley raised its stake 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 in the last quarter. Institutional investors and hedge funds own 23.77% of the company’s stock.
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.
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