Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE)’s share price was up 8.9% during mid-day trading on Wednesday . The stock traded as high as $8.11 and last traded at $7.93, with a volume of 164,035 shares traded. The stock had previously closed at $7.28.

Several equities analysts have recently issued reports on ZYNE shares. Jefferies Group restated a “buy” rating and set a $32.00 target price on shares of Zynerba Pharmaceuticals in a research report on Thursday, April 7th. Canaccord Genuity restated a “buy” rating on shares of Zynerba Pharmaceuticals in a research report on Monday, April 18th. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Zynerba Pharmaceuticals in a research report on Tuesday, May 3rd. Zacks Investment Research lowered Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, May 18th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $42.00 price objective on shares of Zynerba Pharmaceuticals in a research report on Tuesday. Six equities research analysts have rated the stock with a buy rating, Zynerba Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $28.58.

The firm’s market capitalization is $76.54 million. The stock’s 50-day moving average is $7.50 and its 200 day moving average is $8.08.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its earnings results on Thursday, May 12th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.07. Equities research analysts anticipate 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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