Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) rose 7.7% 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.

ZYNE has been the topic of several research reports. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $29.00 price objective on shares of Zynerba Pharmaceuticals in a research note on Tuesday, June 28th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $42.00 price objective on shares of Zynerba Pharmaceuticals in a research note 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 research note on Tuesday, July 19th. Canaccord Genuity restated a “buy” rating on shares of Zynerba Pharmaceuticals in a research note on Monday, April 18th. Finally, Jefferies Group restated a “buy” rating and issued a $32.00 price target on shares of Zynerba Pharmaceuticals in a research note on Thursday, April 7th. Six analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $28.58.

The company’s 50 day moving average is $7.64 and its 200 day moving average is $8.11. The stock’s market cap is $98.52 million.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its earnings results on Thursday, May 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.07. Equities research analysts forecast that Zynerba Pharmaceuticals Inc. will post ($2.37) EPS 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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