Zynerba Pharmaceuticals Inc. (ZYNE) Stock Price Down 3.2%
Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) shares dropped 3.2% during trading on Tuesday . The company traded as low as $9.69 and last traded at $9.71, with a volume of 61,447 shares trading hands. The stock had previously closed at $10.03.
ZYNE has been the subject of a number of research analyst reports. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $29.00 target price 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 cut Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, May 18th. Finally, Canaccord Genuity set a $35.00 price objective on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, August 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Zynerba Pharmaceuticals presently has an average rating of “Buy” and an average target price of $28.58.
The firm’s market capitalization is $90.79 million. The firm has a 50-day moving average of $8.57 and a 200-day moving average of $8.33.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its earnings results on Thursday, August 11th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by $0.18. On average, equities analysts expect that Zynerba Pharmaceuticals Inc. will post ($2.54) EPS for the current fiscal year.
In other news, insider Suzanne M. Hanlon sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $10.53, for a total transaction of $31,590.00. Following the transaction, the insider now owns 39,893 shares of the company’s stock, valued at $420,073.29. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
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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