Zynerba Pharmaceuticals (ZYNE) PT Set at $23.00 by HC Wainwright
Other equities research analysts have also recently issued research reports about the stock. Ladenburg Thalmann Financial Services assumed coverage on shares of Zynerba Pharmaceuticals in a research note on Monday, January 29th. They issued a buy rating and a $25.50 price target on the stock. Seaport Global Securities assumed coverage on shares of Zynerba Pharmaceuticals in a research note on Friday, January 26th. They issued a buy rating and a $16.00 price target on the stock. Oppenheimer reissued a hold rating on shares of Zynerba Pharmaceuticals in a research note on Wednesday, January 3rd. Cantor Fitzgerald set a $20.00 price target on shares of Zynerba Pharmaceuticals and gave the company a buy rating in a research note on Monday. Finally, Piper Jaffray Companies lifted their price target on shares of Zynerba Pharmaceuticals from $16.00 to $20.00 in a research note on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $17.77.
Shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) opened at $10.39 on Tuesday. Zynerba Pharmaceuticals has a one year low of $5.42 and a one year high of $25.95. The stock has a market cap of $162.24 and a price-to-earnings ratio of -4.01.
In other news, major shareholder Michael Rapp acquired 15,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were bought at an average price of $12.99 per share, for a total transaction of $194,850.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 9.91% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Engineers Gate Manager LP purchased a new position in shares of Zynerba Pharmaceuticals during the 3rd quarter worth $263,000. Teachers Advisors LLC purchased a new position in shares of Zynerba Pharmaceuticals during the 2nd quarter worth $341,000. Perceptive Advisors LLC raised its holdings in shares of Zynerba Pharmaceuticals by 230.7% during the 3rd quarter. Perceptive Advisors LLC now owns 130,700 shares of the company’s stock worth $1,320,000 after acquiring an additional 230,700 shares during the period. Granite Point Capital Management L.P. raised its holdings in shares of Zynerba Pharmaceuticals by 47.9% during the 3rd quarter. Granite Point Capital Management L.P. now owns 200,000 shares of the company’s stock worth $1,672,000 after acquiring an additional 64,800 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of Zynerba Pharmaceuticals by 3,759.5% during the 3rd quarter. Wells Fargo & Company MN now owns 34,079 shares of the company’s stock worth $285,000 after acquiring an additional 33,196 shares during the period. Institutional investors own 29.07% of the company’s stock.
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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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