Analysts Set Zynerba Pharmaceuticals, Inc. (ZYNE) Price Target at $13.50
Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) has received an average recommendation of “Hold” from the twelve analysts that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $13.50.
ZYNE has been the topic of several research reports. Zacks Investment Research raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. ValuEngine raised Zynerba Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Oppenheimer reissued a “hold” rating on shares of Zynerba Pharmaceuticals in a research report on Tuesday, November 14th. Cantor Fitzgerald set a $17.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, November 20th. Finally, Roth Capital cut Zynerba Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $30.00 to $7.00 in a research report on Tuesday, August 8th.
In related news, major shareholder Michael Rapp acquired 44,255 shares of the stock in a transaction dated Thursday, October 19th. The shares were purchased at an average cost of $9.59 per share, with a total value of $424,405.45. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 9.91% of the company’s stock.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) traded up $0.81 during trading on Thursday, hitting $14.58. The company had a trading volume of 491,309 shares, compared to its average volume of 524,282. Zynerba Pharmaceuticals has a 12 month low of $5.42 and a 12 month high of $25.95.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its quarterly earnings data on Tuesday, November 14th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.05). During the same quarter in the prior year, the firm earned ($0.67) earnings per share. research analysts predict that Zynerba Pharmaceuticals will post -2.49 EPS for the current fiscal year.
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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