Needham & Company LLC restated their hold rating on shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) in a report issued on Monday morning, AnalystRatings.com reports.

Other research analysts have also issued reports about the stock. HC Wainwright restated a buy rating and set a $12.00 target price on shares of Zynerba Pharmaceuticals in a research report on Wednesday, July 1st. Cantor Fitzgerald lowered their target price on shares of Zynerba Pharmaceuticals from $24.00 to $8.00 and set an overweight rating on the stock in a research report on Wednesday, July 1st. Zacks Investment Research restated a buy rating and set a $6.25 target price on shares of Zynerba Pharmaceuticals in a research report on Saturday, May 30th. LADENBURG THALM/SH SH restated a buy rating and set a $26.00 target price on shares of Zynerba Pharmaceuticals in a research report on Monday, June 29th. Finally, Canaccord Genuity lowered their target price on shares of Zynerba Pharmaceuticals from $18.00 to $12.00 and set a buy rating on the stock in a research report on Wednesday, July 1st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $13.18.

Shares of Zynerba Pharmaceuticals stock opened at $3.53 on Monday. Zynerba Pharmaceuticals has a 52-week low of $2.55 and a 52-week high of $11.64. The company’s 50-day simple moving average is $3.81 and its 200-day simple moving average is $4.17. The firm has a market cap of $103.27 million, a price-to-earnings ratio of -1.91 and a beta of 2.97.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.33). Equities analysts forecast that Zynerba Pharmaceuticals will post -2.13 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in ZYNE. Jane Street Group LLC purchased a new stake in shares of Zynerba Pharmaceuticals in the second quarter valued at about $466,000. Prentice Capital Management LP lifted its holdings in shares of Zynerba Pharmaceuticals by 62.9% in the first quarter. Prentice Capital Management LP now owns 341,436 shares of the company’s stock valued at $1,308,000 after purchasing an additional 131,820 shares in the last quarter. Sphera Funds Management LTD. purchased a new stake in shares of Zynerba Pharmaceuticals in the first quarter valued at about $383,000. AdvisorShares Investments LLC lifted its holdings in shares of Zynerba Pharmaceuticals by 30.9% in the first quarter. AdvisorShares Investments LLC now owns 352,968 shares of the company’s stock valued at $1,352,000 after purchasing an additional 83,253 shares in the last quarter. Finally, Bridgeway Capital Management Inc. lifted its holdings in shares of Zynerba Pharmaceuticals by 172.8% in the second quarter. Bridgeway Capital Management Inc. now owns 119,200 shares of the company’s stock valued at $402,000 after purchasing an additional 75,500 shares in the last quarter. 25.99% of the stock is currently owned by institutional investors.

Zynerba Pharmaceuticals Company Profile

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.

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Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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