Zynerba Pharmaceuticals Inc. (ZYNE) Trading 3.3% Higher
Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) shares traded up 3.3% on Friday . The stock traded as high as $7.62 and last traded at $7.57, with a volume of 62,931 shares traded. The stock had previously closed at $7.33.
Several research analysts have weighed in on the company. Jefferies Group reissued a “buy” rating and issued a $32.00 price objective on shares of Zynerba Pharmaceuticals in a research report on Thursday, April 7th. Roth Capital assumed coverage on Zynerba Pharmaceuticals in a research report on Thursday, March 17th. They set a “buy” rating and a $25.00 price target on the stock. Canaccord Genuity reaffirmed a “buy” rating on shares of Zynerba Pharmaceuticals in a research report on Monday, April 18th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Zynerba Pharmaceuticals in a research report on Tuesday, May 3rd. Finally, Zacks Investment Research cut Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, May 18th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $32.60.
The stock has a 50 day moving average price of $7.88 and a 200 day moving average price of $8.21. The company’s market cap is $69.27 million.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings data on Thursday, May 12th. The company reported ($0.49) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.07. Equities 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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