Zynerba Pharmaceuticals Inc (ZYNE) Receives $17.56 Consensus PT from Analysts
Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) has been assigned an average rating of “Buy” from the thirteen brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $17.56.
ZYNE has been the topic of a number of research reports. Cantor Fitzgerald set a $20.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, May 9th. HC Wainwright set a $23.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, July 13th. Canaccord Genuity set a $18.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, July 13th. Oppenheimer reaffirmed a “hold” rating on shares of Zynerba Pharmaceuticals in a research report on Tuesday, May 8th. Finally, ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd.
Shares of Zynerba Pharmaceuticals traded down $2.51, reaching $7.91, during trading on Friday, Marketbeat.com reports. 4,006,366 shares of the stock were exchanged, compared to its average volume of 337,234. Zynerba Pharmaceuticals has a 1-year low of $5.42 and a 1-year high of $19.15. The firm has a market capitalization of $141.31 million, a price-to-earnings ratio of -3.19 and a beta of 4.87.
In related news, major shareholder Michael Rapp purchased 5,885 shares of the stock in a transaction that occurred on Wednesday, May 30th. The stock was acquired at an average cost of $10.45 per share, with a total value of $61,498.25. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 12.67% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC purchased a new stake in Zynerba Pharmaceuticals in the 1st quarter valued at $903,000. A.R.T. Advisors LLC grew its stake in Zynerba Pharmaceuticals by 33.7% in the 1st quarter. A.R.T. Advisors LLC now owns 86,877 shares of the company’s stock valued at $754,000 after purchasing an additional 21,879 shares during the period. JPMorgan Chase & Co. grew its stake in Zynerba Pharmaceuticals by 385.6% in the 1st quarter. JPMorgan Chase & Co. now owns 12,217 shares of the company’s stock valued at $106,000 after purchasing an additional 9,701 shares during the period. BlackRock Inc. grew its stake in Zynerba Pharmaceuticals by 5.4% in the 1st quarter. BlackRock Inc. now owns 715,185 shares of the company’s stock valued at $6,216,000 after purchasing an additional 36,488 shares during the period. Finally, Northern Trust Corp grew its stake in Zynerba Pharmaceuticals by 17.3% in the 1st quarter. Northern Trust Corp now owns 167,342 shares of the company’s stock valued at $1,455,000 after purchasing an additional 24,663 shares during the period. 21.84% of the stock is owned by institutional investors and hedge funds.
About Zynerba Pharmaceuticals
Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. The company focuses on developing and commercializing pharmaceutically-produced transdermal cannabinoid treatments for rare or near-rare neuropsychiatric disorders. Its product candidates include ZYN002, which completed Phase II clinical trial for pediatric and adolescent patients with fragile X syndrome, pediatric and adolescent patients with developmental and epileptic encephalopathies, and adult patients with refractory epileptic focal seizures; and ZYN001 that is in Phase I clinical trial to treat Tourette syndrome.
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