Shares of Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) traded down 3.7% during mid-day trading on Wednesday . The stock traded as low as $8.62 and last traded at $8.65, with a volume of 59,558 shares changing hands. The stock had previously closed at $8.98.

Several analysts recently issued reports on the stock. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Zynerba Pharmaceuticals in a report on Tuesday, May 3rd. Zacks Investment Research lowered shares of Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, May 18th. Canaccord Genuity reiterated a “buy” rating and set a $35.00 price target on shares of Zynerba Pharmaceuticals in a research note on Tuesday, August 16th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $42.00 price target on shares of Zynerba Pharmaceuticals in a research note on Friday, August 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $28.58.

The company’s market capitalization is $78.01 million. The company has a 50-day moving average price of $8.88 and a 200 day moving average price of $8.47.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings results on Thursday, August 11th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.53) by $0.18. On average, analysts predict that Zynerba Pharmaceuticals Inc. will post ($2.54) EPS for the current year.

In other Zynerba Pharmaceuticals news, insider Suzanne M. Hanlon sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $10.53, for a total value of $31,590.00. Following the completion of the transaction, the insider now owns 39,893 shares of the company’s stock, valued at approximately $420,073.29. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.