Zynerba Pharmaceuticals (ZYNE) Issues Quarterly Earnings Results, Meets Estimates
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.
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.
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.
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.
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