Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE)’s share price shot up 3.3% on Wednesday . The company traded as high as $7.49 and last traded at $7.23, with a volume of 106,431 shares changing hands. The stock had previously closed at $7.00.

A number of brokerages have weighed in on ZYNE. Roth Capital began coverage on shares of Zynerba Pharmaceuticals in a research note on Thursday, March 17th. They set a “buy” rating and a $25.00 target price for the company. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and set a $29.00 target price on shares of Zynerba Pharmaceuticals in a research note on Monday, May 16th. Canaccord Genuity reaffirmed a “buy” rating on shares of Zynerba Pharmaceuticals in a research note on Monday, April 18th. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, May 18th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $32.00 target price on shares of Zynerba Pharmaceuticals in a research note on Thursday, April 7th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Zynerba Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $32.60.

The stock’s 50-day moving average price is $7.89 and its 200 day moving average price is $8.35. The company’s market cap is $67.15 million.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings results on Thursday, May 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.07. Equities research analysts expect that Zynerba Pharmaceuticals Inc. will post ($2.37) earnings per share for the current fiscal year.

Zynerba Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing and commercializing synthetic cannabinoid therapeutics formulated for transdermal delivery. The Company is evaluating approximately two product candidates, ZYN002 and ZYN001, in over five indications, including refractory epilepsy, Fragile X syndrome (FXS), osteoarthritis (OA), fibromyalgia and peripheral neuropathic pain.

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