Zynerba Pharmaceuticals Inc. (ZYNE) Sees Large Volume Increase
Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) saw an uptick in trading volume on Tuesday . 249,462 shares traded hands during mid-day trading, an increase of 9% from the previous session’s volume of 229,643 shares.The stock last traded at $11.77 and had previously closed at $11.90.
A number of brokerages have recently issued reports on ZYNE. Roth Capital set a $25.00 price objective on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, September 6th. Zacks Investment Research cut shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 16th. Canaccord Genuity reissued a “buy” rating and issued a $35.00 price objective on shares of Zynerba Pharmaceuticals in a research note on Wednesday, September 7th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $42.00 target price on shares of Zynerba Pharmaceuticals in a research note on Tuesday, July 26th. Finally, Oppenheimer Holdings Inc. reaffirmed a “buy” rating and set a $29.00 target price on shares of Zynerba Pharmaceuticals in a research note on Tuesday, June 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Zynerba Pharmaceuticals has an average rating of “Buy” and a consensus target price of $28.58.
The firm’s 50-day moving average is $9.76 and its 200-day moving average is $8.84. The company’s market capitalization is $110.57 million.
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Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its quarterly earnings data on Thursday, August 11th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.53) by $0.18. Zynerba Pharmaceuticals had a negative net margin of 5,681.48% and a negative return on equity of 51.49%. Equities analysts predict that Zynerba Pharmaceuticals Inc. will post ($2.54) EPS for the current fiscal year.
In other Zynerba Pharmaceuticals news, insider Suzanne M. Hanlon sold 3,000 shares of Zynerba Pharmaceuticals stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $10.53, for a total transaction of $31,590.00. Following the completion of the sale, the insider now directly owns 39,893 shares in the company, valued at approximately $420,073.29. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 10.02% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ZYNE. Alpine Partners VI LLC acquired a new stake in shares of Zynerba Pharmaceuticals during the second quarter valued at approximately $113,000. State Street Corp boosted its stake in shares of Zynerba Pharmaceuticals by 1.5% in the first quarter. State Street Corp now owns 37,629 shares of the company’s stock valued at $356,000 after buying an additional 562 shares during the last quarter. Emerald Advisers Inc. PA boosted its stake in shares of Zynerba Pharmaceuticals by 5.6% in the second quarter. Emerald Advisers Inc. PA now owns 176,514 shares of the company’s stock valued at $1,209,000 after buying an additional 9,329 shares during the last quarter. Finally, Cormorant Asset Management LLC boosted its stake in shares of Zynerba Pharmaceuticals by 33.2% in the first quarter. Cormorant Asset Management LLC now owns 475,035 shares of the company’s stock valued at $4,489,000 after buying an additional 118,435 shares during the last quarter. Institutional investors and hedge funds own 23.78% of the company’s stock.
Zynerba Pharmaceuticals Company Profile
Zynerba Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing and commercializing synthetic cannabinoid therapeutics formulated for transdermal delivery. The Company is evaluating approximately two product candidates, ZYN002 and ZYN001, in over five indications, including refractory epilepsy, Fragile X syndrome (FXS), osteoarthritis (OA), fibromyalgia and peripheral neuropathic pain.
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