Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) Chairman Armando Anido bought 5,000 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average cost of $19.70 per share, with a total value of $98,500.00. Following the completion of the transaction, the chairman now owns 336,012 shares in the company, valued at $6,619,436.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) traded up 3.435% during mid-day trading on Tuesday, reaching $20.025. The company’s stock had a trading volume of 145,732 shares. Zynerba Pharmaceuticals Inc has a 12 month low of $6.12 and a 12 month high of $25.95. The firm’s market cap is $264.61 million. The company’s 50-day moving average is $21.43 and its 200 day moving average is $18.20.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its quarterly earnings results on Tuesday, May 9th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by $0.05. On average, equities analysts anticipate that Zynerba Pharmaceuticals Inc will post ($2.31) EPS for the current year.

TRADEMARK VIOLATION NOTICE: This report was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright and trademark law. The original version of this report can be read at https://www.americanbankingnews.com/2017/05/16/zynerba-pharmaceuticals-inc-zyne-chairman-buys-98500-00-in-stock.html.

Several institutional investors have recently made changes to their positions in ZYNE. Segantii Capital Management Ltd bought a new position in shares of Zynerba Pharmaceuticals during the first quarter valued at about $291,000. Laurion Capital Management LP bought a new position in shares of Zynerba Pharmaceuticals during the first quarter valued at about $586,000. Sphera Funds Management LTD. bought a new position in shares of Zynerba Pharmaceuticals during the first quarter valued at about $2,010,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Zynerba Pharmaceuticals during the first quarter valued at about $410,000. Finally, Granite Point Capital Management L.P. bought a new position in shares of Zynerba Pharmaceuticals during the first quarter valued at about $1,990,000. Institutional investors own 15.00% of the company’s stock.

Several brokerages recently issued reports on ZYNE. Canaccord Genuity set a $35.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Saturday. Roth Capital set a $30.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Saturday. Oppenheimer Holdings Inc. set a $29.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Saturday, April 1st. Cantor Fitzgerald reaffirmed a “buy” rating and set a $28.00 target price on shares of Zynerba Pharmaceuticals in a research report on Tuesday, May 9th. Finally, Zacks Investment Research raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Saturday, February 18th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $31.44.

Zynerba Pharmaceuticals Company Profile

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.

5 Day Chart for NASDAQ:ZYNE

Receive News & Ratings for Zynerba Pharmaceuticals Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynerba Pharmaceuticals Inc and related companies with MarketBeat.com's FREE daily email newsletter.