Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) shares traded down 4.6% during mid-day trading on Tuesday . The stock traded as low as $7.21 and last traded at $7.21, with a volume of 73,514 shares. The stock had previously closed at $7.56.

A number of analysts have recently weighed in on ZYNE shares. Zacks Investment Research upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a report on Tuesday. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Zynerba Pharmaceuticals in a report on Tuesday, May 3rd. Canaccord Genuity restated a “buy” rating on shares of Zynerba Pharmaceuticals in a report on Monday, April 18th. Finally, Jefferies Group restated a “buy” rating and issued a $32.00 price target on shares of Zynerba Pharmaceuticals in a report on Thursday, April 7th. Six research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $28.58.

The company has a 50 day moving average price of $7.87 and a 200-day moving average price of $8.15. The company’s market capitalization is $67.34 million.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings data on Thursday, May 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.07. On average, equities analysts anticipate that Zynerba Pharmaceuticals Inc. will post ($2.37) earnings per share for the current fiscal 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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