Zynerba Pharmaceuticals, Inc. (ZYNE) Receives $8.17 Consensus Target Price from Analysts
Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) has been given a consensus recommendation of “Hold” by the twelve research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $8.17.
Several research analysts have recently issued reports on ZYNE shares. Jefferies Group LLC restated a “buy” rating and set a $32.00 price objective on shares of Zynerba Pharmaceuticals in a report on Thursday, May 25th. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, May 30th. Maxim Group restated a “buy” rating and set a $32.00 price objective on shares of Zynerba Pharmaceuticals in a report on Thursday, June 8th. Cantor Fitzgerald set a $28.00 price objective on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, June 8th. Finally, Roth Capital set a $30.00 price objective on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Saturday, June 10th.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) traded down 1.87% during trading on Friday, reaching $6.30. 182,001 shares of the company’s stock were exchanged. Zynerba Pharmaceuticals has a 1-year low of $6.10 and a 1-year high of $23.57. The company’s 50-day moving average is $6.28 and its 200-day moving average is $8.47. The company’s market capitalization is $83.52 million.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings data on Tuesday, August 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.04). Equities research analysts expect that Zynerba Pharmaceuticals will post ($2.42) earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors acquired a new stake in shares of Zynerba Pharmaceuticals during the 2nd quarter valued at about $110,000. The Manufacturers Life Insurance Company acquired a new position in Zynerba Pharmaceuticals in the second quarter valued at about $158,000. FNY Managed Accounts LLC acquired a new position in Zynerba Pharmaceuticals in the first quarter valued at about $180,000. SG Americas Securities LLC acquired a new position in Zynerba Pharmaceuticals in the first quarter valued at about $188,000. Finally, New York State Common Retirement Fund acquired a new position in Zynerba Pharmaceuticals in the second quarter valued at about $207,000. Institutional investors and hedge funds own 34.32% 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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