Zynerba Pharmaceuticals Inc. (ZYNE) Receives $30.83 Consensus Target Price from Analysts
Shares of Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) have received an average recommendation of “Buy” from the seven brokerages that are covering the company. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $30.83.
A number of analysts recently commented on the stock. Roth Capital set a $25.00 price objective on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, September 6th. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 16th. HC Wainwright assumed coverage on shares of Zynerba Pharmaceuticals in a report on Friday, October 7th. They set a “buy” rating and a $22.00 price objective on the stock. Canaccord Genuity reissued a “buy” rating and set a $35.00 price objective on shares of Zynerba Pharmaceuticals in a report on Wednesday, September 7th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $42.00 price objective on shares of Zynerba Pharmaceuticals in a report on Tuesday, July 26th.
Shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) opened at 12.70 on Friday. Zynerba Pharmaceuticals has a 1-year low of $4.64 and a 1-year high of $21.56. The stock’s market cap is $116.83 million. The stock has a 50 day moving average of $11.28 and a 200 day moving average of $9.18.
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 the Thomson Reuters’ consensus estimate of ($0.53) by $0.18. Zynerba Pharmaceuticals had a negative net margin of 5,681.48% and a negative return on equity of 51.49%. Equities research analysts forecast that Zynerba Pharmaceuticals will post ($2.54) EPS for the current year.
In other Zynerba Pharmaceuticals 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 transaction, the insider now owns 39,893 shares in the company, valued at $420,073.29. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 10.02% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ZYNE. Alpine Partners VI LLC acquired a new position in shares of Zynerba Pharmaceuticals during the second quarter worth about $113,000. Emerald Advisers Inc. PA raised its position in Zynerba Pharmaceuticals by 5.6% in the second quarter. Emerald Advisers Inc. PA now owns 176,514 shares of the company’s stock worth $1,209,000 after buying an additional 9,329 shares in the last quarter. Cormorant Asset Management LLC raised its position in Zynerba Pharmaceuticals by 33.2% in the first quarter. Cormorant Asset Management LLC now owns 475,035 shares of the company’s stock worth $4,489,000 after buying an additional 118,435 shares in the last quarter. Finally, State Street Corp raised its position in Zynerba Pharmaceuticals by 1.5% in the first quarter. State Street Corp now owns 37,629 shares of the company’s stock worth $356,000 after buying an additional 562 shares in the last quarter. Institutional investors own 23.78% of the company’s stock.
Zynerba Pharmaceuticals Company Profile
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.
Receive News & Ratings for Zynerba Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynerba Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.