Cantor Fitzgerald set a $17.00 target price on Zynerba Pharmaceuticals (NASDAQ:ZYNE) in a report published on Monday morning. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on ZYNE. Zacks Investment Research raised Zynerba Pharmaceuticals from a sell rating to a hold rating in a report on Thursday, August 10th. ValuEngine upgraded Zynerba Pharmaceuticals from a strong sell rating to a sell rating in a research report on Friday, September 1st. Oppenheimer restated a hold rating on shares of Zynerba Pharmaceuticals in a research report on Tuesday, November 14th. Roth Capital cut Zynerba Pharmaceuticals from a buy rating to a neutral rating and dropped their price target for the company from $30.00 to $7.00 in a research report on Tuesday, August 8th. Finally, CIBC restated a market perform rating on shares of Zynerba Pharmaceuticals in a research report on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Zynerba Pharmaceuticals has an average rating of Hold and a consensus target price of $15.00.

Shares of Zynerba Pharmaceuticals (NASDAQ ZYNE) traded down $1.21 during midday trading on Monday, hitting $13.37. The company had a trading volume of 1,219,400 shares, compared to its average volume of 642,984. Zynerba Pharmaceuticals has a 52-week low of $5.42 and a 52-week high of $25.95.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings results on Tuesday, November 14th. The company reported ($0.63) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.58) by ($0.05). During the same period in the previous year, the business earned ($0.67) earnings per share. analysts anticipate that Zynerba Pharmaceuticals will post -2.49 EPS for the current year.

In related news, major shareholder Michael Rapp acquired 44,255 shares of the company’s stock in a transaction that occurred on Thursday, October 19th. The stock was purchased at an average price of $9.59 per share, for a total transaction of $424,405.45. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 9.91% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in shares of Zynerba Pharmaceuticals by 65,190.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 326,450 shares of the company’s stock valued at $5,539,000 after purchasing an additional 325,950 shares in the last quarter. Perceptive Advisors LLC lifted its stake in shares of Zynerba Pharmaceuticals by 230.7% in the 3rd quarter. Perceptive Advisors LLC now owns 130,700 shares of the company’s stock valued at $1,320,000 after purchasing an additional 230,700 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Zynerba Pharmaceuticals by 13,501.1% in the 2nd quarter. Citigroup Inc. now owns 221,698 shares of the company’s stock valued at $3,762,000 after purchasing an additional 220,068 shares in the last quarter. RTW Investments LP acquired a new position in shares of Zynerba Pharmaceuticals in the 3rd quarter valued at about $1,672,000. Finally, State Street Corp acquired a new position in shares of Zynerba Pharmaceuticals in the 2nd quarter valued at about $2,698,000. Institutional investors own 26.95% of the company’s stock.

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About Zynerba Pharmaceuticals

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.

Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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