Zynerba Pharmaceuticals Inc. (ZYNE) Sees Large Volume Increase
Shares of Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) saw unusually-strong trading volume on Monday . Approximately 194,877 shares traded hands during mid-day trading, an increase of 51% from the previous session’s volume of 128,665 shares.The stock last traded at $9.03 and had previously closed at $8.84.
A number of equities analysts have weighed in on ZYNE shares. Zacks Investment Research raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a research note on Tuesday, July 19th. Jefferies Group reaffirmed a “buy” rating and issued a $32.00 target price on shares of Zynerba Pharmaceuticals in a research note on Thursday, April 7th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Zynerba Pharmaceuticals in a research note on Tuesday, May 3rd. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $42.00 target price on shares of Zynerba Pharmaceuticals in a research note on Tuesday, July 26th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Zynerba Pharmaceuticals in a research note on Monday, April 18th. Six investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $28.58.
The company has a 50 day moving average of $7.51 and a 200 day moving average of $8.08. The firm’s market capitalization is $84.63 million.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its quarterly earnings data on Thursday, May 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.07. On average, equities analysts expect that Zynerba Pharmaceuticals Inc. will post ($2.37) earnings per share 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.
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