Zynerba Pharmaceuticals Inc. (ZYNE) Shares Down 5.2%
Shares of Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) were down 5.2% on Tuesday . The company traded as low as $8.57 and last traded at $8.72, with a volume of 130,406 shares. The stock had previously closed at $9.20.
A number of analysts recently weighed in on ZYNE shares. Jefferies Group reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Zynerba Pharmaceuticals in a research note on Thursday, April 7th. Canaccord Genuity reiterated a “buy” rating on shares of Zynerba Pharmaceuticals in a report on Monday, April 18th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Zynerba Pharmaceuticals in a report on Tuesday, May 3rd. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, May 18th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $42.00 target price on shares of Zynerba Pharmaceuticals in a report on Tuesday, July 26th. Six investment analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of $28.58.
The company’s market cap is $80.95 million. The stock’s 50-day moving average is $7.51 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, topping the Zacks’ consensus estimate of ($0.56) by $0.07. 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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