Shares of Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) were up 8.9% during trading on Wednesday . The stock traded as high as $8.11 and last traded at $7.93, with a volume of 164,035 shares changing hands. The stock had previously closed at $7.28.

Several analysts recently commented on ZYNE shares. Jefferies Group restated a “buy” rating and set a $32.00 price target on shares of Zynerba Pharmaceuticals in a research report on Thursday, April 7th. Oppenheimer Holdings Inc. restated a “buy” rating and set a $29.00 price target on shares of Zynerba Pharmaceuticals in a research report on Tuesday, June 28th. Canaccord Genuity restated a “buy” rating on shares of Zynerba Pharmaceuticals in a research report on Monday, April 18th. Zacks Investment Research lowered shares of Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, May 18th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $42.00 price target on shares of Zynerba Pharmaceuticals in a research report on Tuesday. Six research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $28.58.

The company’s market cap is $73.22 million. The stock’s 50 day moving average is $7.60 and its 200 day moving average is $8.08.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings results on Thursday, May 12th. The company reported ($0.49) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.07. Equities research analysts forecast 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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