Zynerba Pharmaceuticals (ZYNE) Shares Gap Down to $14.51
Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) shares gapped down before the market opened on Tuesday . The stock had previously closed at $13.91, but opened at $14.51. Zynerba Pharmaceuticals shares last traded at $14.99, with a volume of 54456 shares traded.
ZYNE has been the topic of several recent research reports. ValuEngine downgraded Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Roth Capital began coverage on Zynerba Pharmaceuticals in a research note on Tuesday, April 30th. They issued a “buy” rating and a $36.00 price objective on the stock. Cantor Fitzgerald reissued a “buy” rating and issued a $11.00 price objective on shares of Zynerba Pharmaceuticals in a research note on Thursday, March 7th. Zacks Investment Research raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Friday, March 22nd. Finally, BidaskClub raised Zynerba Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 18th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $18.52.
The company has a market cap of $312.33 million, a PE ratio of -5.62 and a beta of 5.62.
Several large investors have recently made changes to their positions in ZYNE. Deutsche Bank AG lifted its stake in shares of Zynerba Pharmaceuticals by 17,314.3% in the 4th quarter. Deutsche Bank AG now owns 279,500 shares of the company’s stock valued at $830,000 after purchasing an additional 277,895 shares during the period. Campbell Capital Management Inc. acquired a new position in shares of Zynerba Pharmaceuticals in the 4th quarter valued at about $510,000. Vanguard Group Inc raised its stake in Zynerba Pharmaceuticals by 23.8% during the 3rd quarter. Vanguard Group Inc now owns 651,400 shares of the company’s stock worth $5,316,000 after buying an additional 125,327 shares during the period. Vanguard Group Inc. raised its stake in Zynerba Pharmaceuticals by 23.8% during the 3rd quarter. Vanguard Group Inc. now owns 651,400 shares of the company’s stock worth $5,316,000 after buying an additional 125,327 shares during the period. Finally, Morgan Stanley raised its stake in Zynerba Pharmaceuticals by 993.2% during the 1st quarter. Morgan Stanley now owns 102,379 shares of the company’s stock worth $555,000 after buying an additional 93,014 shares during the period. 10.92% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION WARNING: This piece of content was first posted by Daily Political and is owned by of Daily Political. If you are accessing this piece of content on another site, it was illegally copied and reposted in violation of U.S. and international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.dailypolitical.com/2019/05/23/zynerba-pharmaceuticals-zyne-shares-gap-down-to-14-51.html.
Zynerba Pharmaceuticals Company Profile (NASDAQ:ZYNE)
Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. It focuses on developing pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. The company is developing Zygel, a transdermal cannabidiol gel, which is in Phase II clinical trial for treating children and adolescent patients with developmental and epileptic encephalopathies; is in Phase II/III clinical trial to treat children and adolescent patients with fragile X syndrome; and is in Phase II clinical trial for treating children and adolescent patients with autism spectrum disorder.
Recommended Story: Book Value Per Share – BVPS
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.