Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) has been given a $8.00 target price by research analysts at Oppenheimer Holdings, Inc. in a report released on Monday. The brokerage currently has a “buy” rating on the stock. Oppenheimer Holdings, Inc.’s price objective would indicate a potential upside of 19.94% from the stock’s previous close.

ZYNE has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday. Jefferies Group LLC reissued a “buy” rating and set a $32.00 price objective on shares of Zynerba Pharmaceuticals in a research note on Thursday, May 25th. Cantor Fitzgerald reissued a “buy” rating and set a $28.00 price objective on shares of Zynerba Pharmaceuticals in a research note on Tuesday, May 9th. BidaskClub raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Maxim Group set a $32.00 price objective on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Zynerba Pharmaceuticals has an average rating of “Hold” and an average price target of $29.11.

Zynerba Pharmaceuticals (ZYNE) traded down 55.71% during midday trading on Monday, reaching $6.67. The company’s stock had a trading volume of 8,998,957 shares. The firm’s market capitalization is $88.42 million. Zynerba Pharmaceuticals has a 52 week low of $5.93 and a 52 week high of $25.95. The company’s 50-day moving average is $17.81 and its 200 day moving average is $19.61.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings results on Tuesday, August 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.60) by $0.04. Analysts expect that Zynerba Pharmaceuticals will post ($2.46) earnings per share for the current fiscal year.

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

A number of hedge funds have recently added to or reduced their stakes in ZYNE. Emerald Advisers Inc. PA boosted its stake in Zynerba Pharmaceuticals by 123.2% in the fourth quarter. Emerald Advisers Inc. PA now owns 237,070 shares of the company’s stock valued at $2,387,000 after buying an additional 130,869 shares during the last quarter. State Street Corp boosted its stake in 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. Cormorant Asset Management LLC boosted its stake in 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. Alpine Partners VI LLC purchased a new stake in Zynerba Pharmaceuticals during the second quarter valued at approximately $113,000. Finally, J. Goldman & Co LP purchased a new stake in Zynerba Pharmaceuticals during the fourth quarter valued at approximately $1,113,000. 31.08% of the stock is owned by hedge funds and other institutional investors.

About Zynerba Pharmaceuticals

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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