Zynerba Pharmaceuticals Inc. (ZYNE) Shares Down 4.5%
Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) was down 4.5% on Tuesday . The company traded as low as $10.28 and last traded at $10.34, with a volume of 134,594 shares changing hands. The stock had previously closed at $10.83.
A number of equities research analysts recently weighed in on ZYNE shares. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $29.00 price target on shares of Zynerba Pharmaceuticals in a research note on Tuesday, June 28th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of Zynerba Pharmaceuticals in a report on Tuesday, July 26th. Canaccord Genuity reaffirmed a “buy” rating on shares of Zynerba Pharmaceuticals in a report on Monday, April 18th. Finally, Zacks Investment Research lowered Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, May 18th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Zynerba Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $28.58.
The company’s 50-day moving average price is $8.23 and its 200 day moving average price is $8.23. The stock’s market cap is $88.95 million.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its earnings results on Thursday, August 11th. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by $0.18. On average, equities research analysts predict that Zynerba Pharmaceuticals Inc. will post ($2.47) earnings per share 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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