Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE)’s share price dropped 5.2% during mid-day trading on Tuesday . The stock traded as low as $8.57 and last traded at $8.72, with a volume of 130,406 shares trading hands. The stock had previously closed at $9.20.

ZYNE has been the topic of several analyst reports. Jefferies Group reiterated a “buy” rating and issued a $32.00 target price on shares of Zynerba Pharmaceuticals in a research note on Thursday, April 7th. Canaccord Genuity restated a “buy” rating on shares of Zynerba Pharmaceuticals in a research note on Monday, April 18th. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Zynerba Pharmaceuticals in a research note on Tuesday, May 3rd. Zacks Investment Research lowered Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research note 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 note on Tuesday, July 26th. Six investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus price target of $28.58.

The stock’s market cap is $96.59 million. The company’s 50 day moving average price is $7.64 and its 200 day moving average price is $8.11.

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