Zynerba Pharmaceuticals (NASDAQ:ZYNE) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE – Get Rating) in a research report released on Monday morning. The brokerage issued a sell rating on the stock.

Separately, Cantor Fitzgerald reissued an overweight rating on shares of Zynerba Pharmaceuticals in a research note on Friday, March 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $11.00.

Zynerba Pharmaceuticals Stock Down 3.0 %

ZYNE opened at $0.32 on Monday. The company has a market cap of $17.18 million, a price-to-earnings ratio of -0.39 and a beta of 1.73. Zynerba Pharmaceuticals has a 52-week low of $0.30 and a 52-week high of $1.60. The firm’s fifty day simple moving average is $0.39 and its two-hundred day simple moving average is $0.50.

Zynerba Pharmaceuticals (NASDAQ:ZYNE – Get Rating) last posted its quarterly earnings results on Monday, May 15th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). On average, research analysts forecast that Zynerba Pharmaceuticals will post -0.78 EPS for the current year.

Institutional Investors Weigh In On Zynerba Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new position in shares of Zynerba Pharmaceuticals in the third quarter valued at approximately $46,000. Two Sigma Investments LP acquired a new position in shares of Zynerba Pharmaceuticals in the third quarter valued at approximately $90,000. Vanguard Group Inc. grew its holdings in shares of Zynerba Pharmaceuticals by 11.9% in the third quarter. Vanguard Group Inc. now owns 2,178,590 shares of the company’s stock valued at $1,595,000 after purchasing an additional 232,000 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Zynerba Pharmaceuticals by 50.7% in the third quarter. Renaissance Technologies LLC now owns 1,110,035 shares of the company’s stock valued at $813,000 after purchasing an additional 373,435 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of Zynerba Pharmaceuticals in the second quarter valued at approximately $35,000. 23.82% of the stock is currently owned by institutional investors and hedge funds.

About Zynerba Pharmaceuticals

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Zynerba Pharmaceuticals, Inc engages in the provision of pharmaceutically-produced transdermal cannabinoid therapies. It focuses on the research and development of rare and near-rare neuropsychiatric conditions. The firm offers the Zygel product, which is formulated as a permeation-enhanced gel for transdermal delivery.