Zynerba Pharmaceuticals, Inc. (ZYNE) Downgraded by HC Wainwright to “Neutral”
Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) was downgraded by analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday. They presently have a $7.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 4.95% from the stock’s previous close.
A number of other research analysts have also issued reports on ZYNE. Oppenheimer Holdings, Inc. set a $8.00 price objective on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Monday. BidaskClub upgraded 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 Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 1st. Canaccord Genuity set a $35.00 price objective on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, May 13th. Finally, Jefferies Group LLC restated a “buy” rating and set a $32.00 price objective on shares of Zynerba Pharmaceuticals in a research report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $20.00.
Shares of Zynerba Pharmaceuticals (ZYNE) opened at 6.67 on Tuesday. The stock’s 50 day moving average price is $17.81 and its 200 day moving average price is $19.61. Zynerba Pharmaceuticals has a 1-year low of $5.93 and a 1-year high of $25.95. The stock’s market cap is $88.42 million.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its earnings results on Tuesday, August 1st. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.60) by $0.04. On average, equities research analysts anticipate that Zynerba Pharmaceuticals will post ($2.46) EPS for the current fiscal year.
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In other Zynerba Pharmaceuticals news, CFO James E. Fickenscher bought 5,200 shares of the business’s stock in a transaction on Friday, May 12th. The shares were purchased at an average price of $19.82 per share, with a total value of $103,064.00. Following the purchase, the chief financial officer now directly owns 12,200 shares of the company’s stock, valued at $241,804. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Armando Anido bought 5,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were acquired at an average cost of $19.70 per share, for a total transaction of $98,500.00. Following the purchase, the chairman now directly owns 336,012 shares in the company, valued at $6,619,436.40. The disclosure for this purchase can be found here. Insiders own 10.02% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ZYNE. Bank of New York Mellon Corp increased its stake in shares of Zynerba Pharmaceuticals by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 12,165 shares of the company’s stock valued at $245,000 after buying an additional 635 shares during the last quarter. FNY Managed Accounts LLC acquired a new stake in shares of Zynerba Pharmaceuticals during the first quarter valued at $180,000. SG Americas Securities LLC acquired a new stake in shares of Zynerba Pharmaceuticals during the first quarter valued at $188,000. Rothschild Investment Corp IL increased its stake in shares of Zynerba Pharmaceuticals by 25.1% in the second quarter. Rothschild Investment Corp IL now owns 57,070 shares of the company’s stock valued at $968,000 after buying an additional 11,450 shares during the last quarter. Finally, Cheyne Capital Management UK LLP increased its stake in shares of Zynerba Pharmaceuticals by 23.5% in the first quarter. Cheyne Capital Management UK LLP now owns 61,762 shares of the company’s stock valued at $1,241,000 after buying an additional 11,762 shares during the last quarter. 31.08% of the stock is currently owned by hedge funds and other institutional investors.
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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