Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) shares were down 5.1% during trading on Wednesday . The stock traded as low as $11.26 and last traded at $11.41, with a volume of 189,260 shares. The stock had previously closed at $12.02.

Several research analysts recently commented on ZYNE shares. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Zynerba Pharmaceuticals in a report on Tuesday, June 28th. Zacks Investment Research raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a report on Tuesday, July 19th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $42.00 price target on shares of Zynerba Pharmaceuticals in a report on Tuesday, July 26th. Canaccord Genuity set a $35.00 price target on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, August 16th. Finally, Roth Capital set a $25.00 price target on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, September 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $28.58.

The firm’s 50 day moving average is $9.84 and its 200-day moving average is $8.88. The company’s market cap is $109.65 million.

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Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its earnings results on Thursday, August 11th. The company reported ($0.70) EPS for the quarter, missing the Zacks’ 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%. On average, equities analysts expect that Zynerba Pharmaceuticals Inc. will post ($2.54) earnings per share for the current year.

In other Zynerba Pharmaceuticals news, insider Suzanne M. Hanlon sold 3,000 shares of the company’s 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 of the company’s stock, valued at $420,073.29. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 10.02% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ZYNE. 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 worth $356,000 after buying an additional 562 shares in the last quarter. 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 worth $4,489,000 after buying an additional 118,435 shares in 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 worth $1,209,000 after buying an additional 9,329 shares in the last quarter. Finally, Alpine Partners VI LLC acquired a new stake in shares of Zynerba Pharmaceuticals during the second quarter worth approximately $113,000. 23.78% of the stock is owned by institutional investors and hedge funds.

About Zynerba Pharmaceuticals

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.

5 Day Chart for NASDAQ:ZYNE

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