Zynerba Pharmaceuticals Inc. Forecasted to Post FY2016 Earnings of ($2.49) Per Share (ZYNE)
Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) – Research analysts at Oppenheimer Holdings issued their FY2016 earnings per share estimates for Zynerba Pharmaceuticals in a research note issued to investors on Monday. Oppenheimer Holdings analyst M. Ho expects that the firm will post earnings per share of ($2.49) for the year. Oppenheimer Holdings also issued estimates for Zynerba Pharmaceuticals’ Q4 2016 earnings at ($0.63) EPS, FY2017 earnings at ($1.79) EPS, FY2018 earnings at ($2.23) EPS, FY2019 earnings at ($1.90) EPS and FY2020 earnings at ($0.44) EPS.
ZYNE has been the topic of several other reports. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, October 12th. Roth Capital set a $25.00 target price on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, September 6th. HC Wainwright initiated coverage on shares of Zynerba Pharmaceuticals in a research note on Friday, October 7th. They issued a “buy” rating and a $22.00 target price on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $35.00 target price on shares of Zynerba Pharmaceuticals in a research note on Wednesday, September 7th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $42.00 price objective on shares of Zynerba Pharmaceuticals in a research report on Tuesday, July 26th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $27.64.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) opened at 15.33 on Thursday. The company’s 50 day moving average is $12.65 and its 200-day moving average is $9.73. Zynerba Pharmaceuticals has a 52-week low of $4.64 and a 52-week high of $21.56. The company’s market capitalization is $141.02 million.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its quarterly earnings data on Monday, November 14th. The company reported ($0.67) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.02. Zynerba Pharmaceuticals had a negative net margin of 5,681.48% and a negative return on equity of 63.78%.
Several hedge funds have recently added to or reduced their stakes in the company. Cormorant Asset Management LLC increased its stake in 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. Emerald Advisers Inc. PA increased 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 in the last quarter. Northern Trust Corp acquired a new stake in Zynerba Pharmaceuticals during the third quarter worth $297,000. Morgan Stanley increased its stake in 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. Finally, Alpine Partners VI LLC acquired a new stake in Zynerba Pharmaceuticals during the second quarter worth $113,000. 23.77% of the stock is currently owned by hedge funds and other institutional investors.
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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