Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) shares were up 7.7% during mid-day trading on Wednesday . The stock traded as high as $9.48 and last traded at $9.48, with a volume of 57,984 shares traded. The stock had previously closed at $8.80.

Several research analysts have recently issued reports on ZYNE shares. Oppenheimer Holdings Inc. restated a “buy” rating and set a $29.00 price objective on shares of Zynerba Pharmaceuticals in a report on Tuesday, June 28th. Piper Jaffray Cos. restated an “overweight” rating and set a $42.00 price objective on shares of Zynerba Pharmaceuticals in a report on Tuesday, July 26th. Zacks Investment Research upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a report on Tuesday, July 19th. Canaccord Genuity restated a “buy” rating on shares of Zynerba Pharmaceuticals in a 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 report on Thursday, April 7th. Six analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $28.58.

The firm’s market cap is $86.75 million. The firm’s 50 day moving average price is $7.53 and its 200-day moving average price is $8.09.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its quarterly earnings results on Thursday, May 12th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.07. Equities analysts expect 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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