Zynerba Pharmaceuticals Inc. (ZYNE) Trading Down 3.2%
Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE)’s share price traded down 3.2% during trading on Tuesday . The stock traded as low as $9.69 and last traded at $9.71, with a volume of 61,447 shares. The stock had previously closed at $10.03.
A number of equities research analysts have issued reports on ZYNE shares. Zacks Investment Research lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 16th. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $29.00 target price on shares of Zynerba Pharmaceuticals in a report on Monday, May 16th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $42.00 target price on shares of Zynerba Pharmaceuticals in a report on Tuesday, July 26th. Finally, Canaccord Genuity set a $35.00 target price on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, August 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Zynerba Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $28.58.
The stock’s market cap is $85.55 million. The company’s 50 day moving average price is $8.67 and its 200 day moving average price is $8.36.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly 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, analysts anticipate that Zynerba Pharmaceuticals Inc. will post ($2.54) earnings per share for the current year.
In other news, insider Suzanne M. Hanlon sold 3,000 shares of Zynerba Pharmaceuticals stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $10.53, for a total transaction of $31,590.00. Following the completion of the sale, the insider now directly owns 39,893 shares in the company, valued at $420,073.29. The sale was disclosed in a legal filing with the SEC, which is accessible through 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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