Zynerba Pharmaceuticals (NASDAQ:ZYNE) issued its quarterly earnings results on Monday. The company reported ($0.60) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.60), Briefing.com reports. During the same quarter last year, the company posted ($0.71) EPS.

Shares of Zynerba Pharmaceuticals (NASDAQ ZYNE) opened at $10.39 on Wednesday. The company has a market capitalization of $162.24 and a PE ratio of -4.01. Zynerba Pharmaceuticals has a 52 week low of $5.42 and a 52 week high of $25.95.

How to Become a New Pot Stock Millionaire

In related news, major shareholder Michael Rapp purchased 15,000 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was bought at an average cost of $12.99 per share, with a total value of $194,850.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 9.91% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp acquired a new position in shares of Zynerba Pharmaceuticals in the 2nd quarter valued at approximately $2,698,000. California State Teachers Retirement System acquired a new position in shares of Zynerba Pharmaceuticals in the 2nd quarter valued at approximately $343,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Zynerba Pharmaceuticals in the 2nd quarter valued at approximately $158,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

ZYNE has been the subject of several recent research reports. Piper Jaffray Companies boosted their price objective on Zynerba Pharmaceuticals from $16.00 to $20.00 in a report on Tuesday, November 14th. Cantor Fitzgerald set a $17.00 price objective on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, December 4th. Canaccord Genuity set a $18.00 price objective on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, December 4th. HC Wainwright reissued a “buy” rating and set a $23.00 price objective on shares of Zynerba Pharmaceuticals in a report on Thursday, February 1st. Finally, Ladenburg Thalmann Financial Services initiated coverage on Zynerba Pharmaceuticals in a report on Monday, January 29th. They set a “buy” rating and a $25.50 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Zynerba Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $17.77.

WARNING: “Zynerba Pharmaceuticals (ZYNE) Issues Quarterly Earnings Results, Meets Estimates” was first reported by Daily Political and is owned by of Daily Political. If you are accessing this article on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The original version of this article can be viewed at https://www.dailypolitical.com/2018/03/14/zynerba-pharmaceuticals-zyne-issues-quarterly-earnings-results-meets-estimates.html.

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.

Earnings History for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

Receive News & Ratings for Zynerba Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynerba Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.