Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) was the target of some unusual options trading on Monday. Traders purchased 24,664 call options on the company. This represents an increase of 1,580% compared to the average daily volume of 1,468 call options.

NASDAQ:ZYNE opened at $3.37 on Wednesday. The stock’s fifty day moving average is $5.47 and its two-hundred day moving average is $4.85. Zynerba Pharmaceuticals has a 52 week low of $2.55 and a 52 week high of $15.70. The stock has a market capitalization of $157.19 million, a price-to-earnings ratio of -2.15 and a beta of 3.12.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.03). As a group, equities analysts predict that Zynerba Pharmaceuticals will post -1.75 earnings per share for the current fiscal year.

A number of equities research analysts have recently issued reports on ZYNE shares. Cantor Fitzgerald upped their price target on Zynerba Pharmaceuticals from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price objective on shares of Zynerba Pharmaceuticals in a research report on Thursday, April 16th. ValuEngine upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $26.00 price objective on shares of Zynerba Pharmaceuticals in a research report on Monday. Finally, Zacks Investment Research reiterated a “buy” rating and issued a $6.25 price objective on shares of Zynerba Pharmaceuticals in a research report on Saturday, May 30th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Zynerba Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $15.88.

A number of large investors have recently added to or reduced their stakes in ZYNE. California Public Employees Retirement System acquired a new position in Zynerba Pharmaceuticals during the fourth quarter worth $109,000. State Street Corp lifted its stake in Zynerba Pharmaceuticals by 5.1% during the fourth quarter. State Street Corp now owns 403,691 shares of the company’s stock worth $2,438,000 after purchasing an additional 19,694 shares in the last quarter. Barclays PLC lifted its stake in Zynerba Pharmaceuticals by 31.7% during the fourth quarter. Barclays PLC now owns 23,231 shares of the company’s stock worth $140,000 after purchasing an additional 5,585 shares in the last quarter. Citigroup Inc. lifted its stake in Zynerba Pharmaceuticals by 93.4% during the fourth quarter. Citigroup Inc. now owns 6,940 shares of the company’s stock worth $42,000 after purchasing an additional 3,352 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Zynerba Pharmaceuticals during the fourth quarter worth $258,000. Institutional investors own 36.96% of the company’s stock.

About Zynerba Pharmaceuticals

Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. It focuses on developing pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. The company is developing Zygel, a transdermal cannabidiol gel, which is in Phase II clinical trial for treating children and adolescent patients with developmental and epileptic encephalopathies; is in Phase II/III clinical trial to treat children and adolescent patients with fragile X syndrome; and is in Phase II clinical trial for treating children and adolescent patients with autism spectrum disorder.

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