Oppenheimer Holdings, Inc. Analysts Give Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) a $8.00 Price Target
Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) has been given a $8.00 price objective by analysts at Oppenheimer Holdings, Inc. in a research note issued to investors on Monday. The firm presently has a “buy” rating on the stock. Oppenheimer Holdings, Inc.’s price target would indicate a potential upside of 19.94% from the stock’s previous close.
A number of other research firms have also recently weighed in on ZYNE. BidaskClub upgraded shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Maxim Group set a $32.00 price objective on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Canaccord Genuity set a $35.00 price objective on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Saturday, May 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $32.00 target price on shares of Zynerba Pharmaceuticals in a research report on Thursday, May 25th. Finally, Roth Capital set a $30.00 target price on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, May 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $29.11.
Zynerba Pharmaceuticals (ZYNE) traded down 55.71% during trading on Monday, reaching $6.67. 8,999,057 shares of the company traded hands. The company’s market capitalization is $88.42 million. Zynerba Pharmaceuticals has a 52 week low of $5.93 and a 52 week high of $25.95. The firm has a 50-day moving average price of $17.81 and a 200-day moving average price of $19.61.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings data on Tuesday, August 1st. The company reported ($0.64) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.60) by $0.04. Analysts forecast that Zynerba Pharmaceuticals will post ($2.46) earnings per share for the current fiscal year.
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In other Zynerba Pharmaceuticals news, Chairman Armando Anido bought 5,000 shares of Zynerba Pharmaceuticals stock in a transaction dated Monday, May 15th. The stock was acquired at an average cost of $19.70 per share, for a total transaction of $98,500.00. Following the completion of the transaction, the chairman now directly owns 336,012 shares of the company’s stock, valued at $6,619,436.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO James E. Fickenscher bought 5,200 shares of Zynerba Pharmaceuticals stock in a transaction dated Friday, May 12th. The stock was acquired at an average price of $19.82 per share, with a total value of $103,064.00. Following the completion of the transaction, the chief financial officer now directly owns 12,200 shares of the company’s stock, valued at $241,804. The disclosure for this purchase can be found here. 10.02% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Marshall Wace North America L.P. acquired a new stake in shares of Zynerba Pharmaceuticals during the first quarter worth approximately $9,362,000. Vanguard Group Inc. raised its stake in shares of Zynerba Pharmaceuticals by 53.9% in the first quarter. Vanguard Group Inc. now owns 425,811 shares of the company’s stock worth $8,559,000 after buying an additional 149,094 shares in the last quarter. Pennsylvania Trust Co purchased a new stake in shares of Zynerba Pharmaceuticals during the second quarter worth about $2,366,000. Sphera Funds Management LTD. purchased a new stake in shares of Zynerba Pharmaceuticals during the first quarter worth about $2,010,000. Finally, Granite Point Capital Management L.P. purchased a new stake in shares of Zynerba Pharmaceuticals during the first quarter worth about $1,990,000. Institutional investors and hedge funds own 31.08% of the company’s stock.
Zynerba Pharmaceuticals Company Profile
Zynerba Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company is engaged in developing and commercializing transdermal synthetic cannabinoid treatments for patients with high unmet needs. Its development pipeline includes two product candidates: ZYN002 and ZYN001. ZYN002 is a synthetic cannabidiol (CBD), which is a non-psychoactive cannabinoid, formulated as a patent-protected permeation-enhanced gel for transdermal delivery through the skin and into the circulatory system.
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