Zynerba Pharmaceuticals, Inc. (ZYNE) Rating Reiterated by Maxim Group
A number of other research analysts also recently issued reports on ZYNE. Cantor Fitzgerald reiterated a buy rating and set a $28.00 price objective on shares of Zynerba Pharmaceuticals in a research note on Tuesday, May 9th. Roth Capital set a $30.00 price objective on Zynerba Pharmaceuticals and gave the company a buy rating in a research note on Saturday, May 13th. Canaccord Genuity set a $35.00 price objective on Zynerba Pharmaceuticals and gave the company a buy rating in a research note on Saturday, May 13th. Jefferies Group LLC reiterated a buy rating and set a $32.00 price objective on shares of Zynerba Pharmaceuticals in a research note on Thursday, May 25th. Finally, Zacks Investment Research downgraded Zynerba Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Zynerba Pharmaceuticals has a consensus rating of Hold and an average price target of $15.56.
Zynerba Pharmaceuticals (NASDAQ ZYNE) opened at 6.36 on Monday. The firm’s 50-day moving average is $14.90 and its 200-day moving average is $18.81. Zynerba Pharmaceuticals has a 12 month low of $5.42 and a 12 month high of $25.95. The company’s market cap is $84.31 million.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its quarterly earnings data on Tuesday, August 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.60) by $0.04. On average, analysts anticipate that Zynerba Pharmaceuticals will post ($2.45) EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Zynerba Pharmaceuticals by 12.4% in the second quarter. Vanguard Group Inc. now owns 478,763 shares of the company’s stock worth $8,125,000 after buying an additional 52,952 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in Zynerba Pharmaceuticals during the first quarter worth approximately $9,362,000. JPMorgan Chase & Co. boosted its position in Zynerba Pharmaceuticals by 65,190.0% in the second quarter. JPMorgan Chase & Co. now owns 326,450 shares of the company’s stock worth $5,539,000 after buying an additional 325,950 shares in the last quarter. Citigroup Inc. boosted its position in Zynerba Pharmaceuticals by 13,501.1% in the second quarter. Citigroup Inc. now owns 221,698 shares of the company’s stock worth $3,762,000 after buying an additional 220,068 shares in the last quarter. Finally, State Street Corp acquired a new position in Zynerba Pharmaceuticals during the second quarter worth approximately $2,698,000. 26.74% of the stock is currently owned by institutional investors.
About Zynerba Pharmaceuticals
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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