Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE)’s share price fell 4.6% on Tuesday . The company traded as low as $7.21 and last traded at $7.21, with a volume of 73,514 shares. The stock had previously closed at $7.56.

A number of brokerages recently weighed in on ZYNE. Zacks Investment Research raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a research note on Tuesday. Oppenheimer Holdings Inc. reissued a “buy” rating and set a $29.00 target price on shares of Zynerba Pharmaceuticals in a research note on Tuesday, June 28th. Canaccord Genuity reissued a “buy” rating on shares of Zynerba Pharmaceuticals in a research note on Monday, April 18th. Finally, Jefferies Group reissued a “buy” rating and set a $32.00 target price on shares of Zynerba Pharmaceuticals in a research note on Thursday, April 7th. Six investment analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average target price of $28.58.

The firm’s 50 day moving average is $7.82 and its 200-day moving average is $8.13. The company’s market capitalization is $70.07 million.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its quarterly earnings results on Thursday, May 12th. The company reported ($0.49) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.07. On average, analysts predict that Zynerba Pharmaceuticals Inc. will post ($2.37) EPS for the current 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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