Zynerba Pharmaceuticals, Inc. (ZYNE) Receives “Hold” Rating from Oppenheimer Holdings, Inc.
Several other research analysts have also issued reports on the company. Zacks Investment Research raised Zynerba Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, July 13th. Jefferies Group LLC reissued a buy rating and issued a $32.00 price objective on shares of Zynerba Pharmaceuticals in a research report on Sunday, July 9th. ValuEngine raised Zynerba Pharmaceuticals from a strong sell rating to a sell rating in a research report on Friday, September 1st. BidaskClub raised Zynerba Pharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, July 12th. Finally, Maxim Group set a $32.00 price objective on Zynerba Pharmaceuticals and gave the stock a buy rating in a research report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $14.33.
Zynerba Pharmaceuticals (ZYNE) traded down 11.44% on Friday, reaching $8.36. The company’s stock had a trading volume of 3,267,315 shares. The firm’s 50-day moving average price is $6.28 and its 200-day moving average price is $6.28. Zynerba Pharmaceuticals has a 52-week low of $6.10 and a 52-week high of $23.57. The stock’s market cap is $110.83 million.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its earnings results on Tuesday, August 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by ($0.04). On average, equities analysts expect that Zynerba Pharmaceuticals will post ($2.39) earnings per share for the current year.
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Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of Zynerba Pharmaceuticals by 5.5% in the 1st quarter. Bank of New York Mellon Corp now owns 12,165 shares of the company’s stock valued at $245,000 after buying an additional 635 shares during the period. Nationwide Fund Advisors acquired a new stake in shares of Zynerba Pharmaceuticals in the 2nd quarter valued at about $110,000. FNY Managed Accounts LLC acquired a new stake in shares of Zynerba Pharmaceuticals in the 1st quarter valued at about $180,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Zynerba Pharmaceuticals in the 2nd quarter valued at about $158,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Zynerba Pharmaceuticals in the 1st quarter valued at about $188,000. Institutional investors 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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