Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) was downgraded by investment analysts at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat Ratings reports.

Several other analysts have also recently issued reports on the company. Piper Jaffray Companies cut Zynerba Pharmaceuticals from an “overweight” rating to a “neutral” rating in a report on Monday. Zacks Investment Research cut Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday. Maxim Group set a $32.00 target price on Zynerba Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, August 1st. HC Wainwright set a $30.00 price target on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, August 1st. Finally, BidaskClub upgraded Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $29.11.

Shares of Zynerba Pharmaceuticals (ZYNE) opened at 6.67 on Monday. The company’s market capitalization is $88.42 million. The company has a 50-day moving average price of $17.81 and a 200-day moving average price of $19.61. Zynerba Pharmaceuticals has a 12 month low of $5.93 and a 12 month high of $25.95.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its earnings results on Tuesday, August 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by $0.04. On average, analysts forecast that Zynerba Pharmaceuticals will post ($2.46) EPS for the current fiscal year.

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In related news, CFO James E. Fickenscher purchased 5,200 shares of Zynerba Pharmaceuticals stock in a transaction on Friday, May 12th. The shares were bought at an average price of $19.82 per share, with a total value of $103,064.00. Following the transaction, the chief financial officer now directly owns 12,200 shares of the company’s stock, valued at $241,804. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Armando Anido purchased 5,000 shares of Zynerba Pharmaceuticals stock in a transaction on Monday, May 15th. The stock was bought at an average cost of $19.70 per share, for a total transaction of $98,500.00. Following the transaction, the chairman now directly owns 336,012 shares in the company, valued at $6,619,436.40. The disclosure for this purchase can be found here. 10.02% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of ZYNE. Marshall Wace North America L.P. bought a new stake in Zynerba Pharmaceuticals during the first quarter worth about $9,362,000. Vanguard Group Inc. raised its stake in shares of Zynerba Pharmaceuticals by 53.9% in the first quarter. Vanguard Group Inc. now owns 425,811 shares of the company’s stock valued at $8,559,000 after buying an additional 149,094 shares during the period. Pennsylvania Trust Co acquired a new stake in shares of Zynerba Pharmaceuticals during the second quarter valued at $2,366,000. Sphera Funds Management LTD. acquired a new stake in shares of Zynerba Pharmaceuticals during the first quarter valued at $2,010,000. Finally, Granite Point Capital Management L.P. acquired a new stake in shares of Zynerba Pharmaceuticals during the first quarter valued at $1,990,000. 31.08% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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