Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) shares reached a new 52-week low during trading on Monday . The stock traded as low as $6.37 and last traded at $6.35, with a volume of 7,586,088 shares traded. The stock had previously closed at $15.06.

Several research analysts have recently commented on the company. Roth Capital set a $30.00 price objective on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Saturday, May 13th. Canaccord Genuity set a $35.00 price objective on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Saturday, May 13th. HC Wainwright downgraded Zynerba Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $30.00 to $7.00 in a research note on Tuesday. Cantor Fitzgerald set a $28.00 price objective on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Finally, ValuEngine downgraded Zynerba Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $20.11.

The firm’s market cap is $83.12 million. The stock’s 50 day moving average is $17.54 and its 200 day moving average is $19.50. Zynerba Pharmaceuticals also was the recipient of unusually large options trading on Monday. Stock investors bought 7,953 put options on the company. This represents an increase of approximately 726% compared to the average volume of 963 put options.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings results on Tuesday, August 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by $0.04. On average, analysts forecast that Zynerba Pharmaceuticals, Inc. will post ($2.46) earnings per share for the current fiscal year.

In other Zynerba Pharmaceuticals news, Chairman Armando Anido purchased 5,000 shares of the stock in a transaction on Monday, May 15th. The shares were bought at an average price of $19.70 per share, for a total transaction of $98,500.00. Following the completion of the transaction, the chairman now owns 336,012 shares of the company’s stock, valued at approximately $6,619,436.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James E. Fickenscher purchased 5,200 shares of the stock in a transaction on Friday, May 12th. The shares were acquired at an average price of $19.82 per share, for a total transaction of $103,064.00. Following the transaction, the chief financial officer now directly owns 12,200 shares of the company’s stock, valued at approximately $241,804. The disclosure for this purchase can be found here. Corporate insiders own 10.02% of the company’s stock.

A number of institutional investors have recently modified their holdings of ZYNE. FNY Managed Accounts LLC acquired a new position in shares of Zynerba Pharmaceuticals during the first quarter worth about $180,000. SG Americas Securities LLC acquired a new position in shares of Zynerba Pharmaceuticals during the first quarter worth about $188,000. Bank of New York Mellon Corp increased its position 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 worth $245,000 after buying an additional 635 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of Zynerba Pharmaceuticals during the second quarter worth about $232,000. Finally, Segantii Capital Management Ltd acquired a new position in shares of Zynerba Pharmaceuticals during the first quarter worth about $291,000. Institutional investors own 31.08% of the company’s stock.

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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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