Zynerba Pharmaceuticals, Inc. (ZYNE) Stock Rating Reaffirmed by Cantor Fitzgerald
Cantor Fitzgerald reissued their overweight rating on shares of Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) in a research report report published on Tuesday morning. The firm currently has a $28.00 target price on the stock.
ZYNE has been the subject of a number of other research reports. Maxim Group restated a buy rating and issued a $32.00 target price on shares of Zynerba Pharmaceuticals in a report on Thursday, June 8th. Zacks Investment Research lowered Zynerba Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, May 30th. Jefferies Group LLC restated a buy rating and issued a $32.00 target price on shares of Zynerba Pharmaceuticals in a report on Sunday, July 9th. HC Wainwright set a $30.00 target price on Zynerba Pharmaceuticals and gave the company a buy rating in a report on Tuesday, August 1st. Finally, Piper Jaffray Companies lowered Zynerba Pharmaceuticals from an overweight rating to a neutral rating and reduced their target price for the company from $42.00 to $7.00 in a report on Monday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $20.11.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) traded up 33.0813% during trading on Tuesday, reaching $8.3442. The company had a trading volume of 3,384,771 shares. The company has a 50-day moving average price of $17.54 and a 200 day moving average price of $19.50. The stock’s market cap is $110.62 million. Zynerba Pharmaceuticals has a 52-week low of $6.20 and a 52-week high of $25.95. Zynerba Pharmaceuticals also saw some unusual options trading on Monday. Stock traders purchased 7,953 put options on the company. This represents an increase of approximately 726% compared to the average daily volume of 963 put options.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its earnings results on Tuesday, August 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.60) by $0.04. On average, analysts anticipate that Zynerba Pharmaceuticals will post ($2.46) earnings per share for the current year.
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In other news, CFO James E. Fickenscher acquired 5,200 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was acquired at an average cost of $19.82 per share, for a total transaction of $103,064.00. Following the completion of the acquisition, the chief financial officer now owns 12,200 shares in the company, valued at $241,804. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Armando Anido acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were purchased at an average price of $19.70 per share, with a total value of $98,500.00. Following the completion of the acquisition, the chairman now owns 336,012 shares of the company’s stock, valued at approximately $6,619,436.40. The disclosure for this purchase can be found here. 10.02% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of Zynerba Pharmaceuticals by 65,190.0% in the second quarter. JPMorgan Chase & Co. now owns 326,450 shares of the company’s stock valued at $5,539,000 after buying an additional 325,950 shares in the last quarter. Chartwell Investment Partners LLC raised its stake in shares of Zynerba Pharmaceuticals by 19.9% in the second quarter. Chartwell Investment Partners LLC now owns 90,378 shares of the company’s stock valued at $1,534,000 after buying an additional 14,978 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Zynerba Pharmaceuticals by 192.1% in the second quarter. Bank of New York Mellon Corp now owns 35,529 shares of the company’s stock valued at $602,000 after buying an additional 23,364 shares in the last quarter. Rhumbline Advisers purchased a new stake in shares of Zynerba Pharmaceuticals during the second quarter valued at about $232,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in shares of Zynerba Pharmaceuticals during the second quarter valued at about $326,000. 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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