Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) shares rose 4.3% during trading on Thursday . The stock traded as high as $7.79 and last traded at $7.72, with a volume of 103,664 shares. The stock had previously closed at $7.40.

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

The firm’s market capitalization is $67.34 million. The company’s 50 day moving average is $7.73 and its 200-day moving average is $8.11.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings results on Thursday, May 12th. The company reported ($0.49) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.07. Analysts forecast that Zynerba Pharmaceuticals Inc. will post ($2.37) earnings per share 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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