Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) shares shot up 3.3% during trading on Friday . The company traded as high as $7.62 and last traded at $7.57, with a volume of 62,931 shares. The stock had previously closed at $7.33.

A number of brokerages have commented on ZYNE. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Zynerba Pharmaceuticals in a research note on Tuesday, May 3rd. Zacks Investment Research lowered shares of Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, May 18th. Canaccord Genuity reaffirmed a “buy” rating on shares of Zynerba Pharmaceuticals in a report on Monday, April 18th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $32.00 price objective on shares of Zynerba Pharmaceuticals in a report on Thursday, April 7th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Zynerba Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $32.60.

The firm has a 50 day moving average of $7.88 and a 200-day moving average of $8.19. The stock’s market capitalization is $69.18 million.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its quarterly earnings results on Thursday, May 12th. The company reported ($0.49) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.07. On average, equities research analysts forecast that Zynerba Pharmaceuticals Inc. will post ($2.37) EPS 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.