Q3 2017 EPS Estimates for Zynerba Pharmaceuticals, Inc. Cut by Analyst (ZYNE)
Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) – Research analysts at Oppenheimer Holdings decreased their Q3 2017 earnings per share (EPS) estimates for shares of Zynerba Pharmaceuticals in a report issued on Monday. Oppenheimer Holdings analyst D. Archila now expects that the company will post earnings of ($0.62) per share for the quarter, down from their previous estimate of ($0.59). Oppenheimer Holdings currently has a “Buy” rating and a $8.00 price target on the stock. Oppenheimer Holdings also issued estimates for Zynerba Pharmaceuticals’ Q4 2017 earnings at ($0.45) EPS, FY2017 earnings at ($2.31) EPS, FY2018 earnings at ($1.96) EPS, FY2019 earnings at ($2.18) EPS, FY2020 earnings at ($2.92) EPS and FY2021 earnings at ($2.47) EPS.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $32.00 target price on shares of Zynerba Pharmaceuticals in a report on Sunday, July 9th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $28.00 target price on shares of Zynerba Pharmaceuticals in a report on Tuesday, May 9th. BidaskClub raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Maxim Group set a $32.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, June 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Zynerba Pharmaceuticals presently has an average rating of “Hold” and an average target price of $17.89.
Shares of Zynerba Pharmaceuticals (ZYNE) opened at 7.60 on Wednesday. Zynerba Pharmaceuticals has a 52 week low of $6.20 and a 52 week high of $25.95. The stock has a 50 day moving average price of $17.54 and a 200-day moving average price of $19.50. The firm’s market capitalization is $100.75 million. Zynerba Pharmaceuticals also was the target of unusually large options trading on Monday. Stock investors purchased 7,953 put options on the company. This is an increase of approximately 726% compared to the average daily volume of 963 put options.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its earnings results on Tuesday, August 1st. The company reported ($0.64) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.60) by $0.04.
In related news, CFO James E. Fickenscher purchased 5,200 shares of Zynerba Pharmaceuticals stock in a transaction on Friday, May 12th. The shares were purchased at an average price of $19.82 per share, for a total transaction of $103,064.00. Following the transaction, the chief financial officer now owns 12,200 shares of the company’s stock, valued at approximately $241,804. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Armando Anido purchased 5,000 shares of Zynerba Pharmaceuticals stock in a transaction on Monday, May 15th. The stock was bought at an average price of $19.70 per share, for a total transaction of $98,500.00. Following the transaction, the chairman now directly owns 336,012 shares in the company, valued at approximately $6,619,436.40. The disclosure for this purchase can be found here. 10.02% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in ZYNE. FNY Managed Accounts LLC bought a new stake in Zynerba Pharmaceuticals during the first quarter worth approximately $180,000. SG Americas Securities LLC bought a new stake in Zynerba Pharmaceuticals during the first quarter worth approximately $188,000. Rhumbline Advisers bought a new stake in Zynerba Pharmaceuticals during the second quarter worth approximately $232,000. Bank of New York Mellon Corp raised its stake in Zynerba Pharmaceuticals by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 12,165 shares of the company’s stock worth $245,000 after buying an additional 635 shares during the period. Finally, Segantii Capital Management Ltd bought a new stake in Zynerba Pharmaceuticals during the first quarter worth approximately $291,000. Hedge funds and other institutional investors own 31.08% of the company’s stock.
Zynerba Pharmaceuticals Company Profile
Zynerba Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company is engaged in developing and commercializing transdermal synthetic cannabinoid treatments for patients with high unmet needs. Its development pipeline includes two product candidates: ZYN002 and ZYN001. ZYN002 is a synthetic cannabidiol (CBD), which is a non-psychoactive cannabinoid, formulated as a patent-protected permeation-enhanced gel for transdermal delivery through the skin and into the circulatory system.
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