Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) was downgraded by stock analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a note issued to investors on Monday.

A number of other research firms have also weighed in on ZYNE. BidaskClub raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Maxim Group set a $32.00 price objective on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Canaccord Genuity set a $35.00 price objective on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Saturday, May 13th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Zynerba Pharmaceuticals in a research note on Thursday, May 25th. Finally, Roth Capital set a $30.00 price objective on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Saturday, May 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $31.44.

Shares of Zynerba Pharmaceuticals (ZYNE) traded down 57.8566% on Monday, reaching $6.3468. The company’s stock had a trading volume of 7,584,930 shares. The company’s 50-day moving average is $17.81 and its 200 day moving average is $19.61. The company’s market capitalization is $84.14 million. Zynerba Pharmaceuticals has a 12-month low of $5.93 and a 12-month high of $25.95.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its quarterly earnings data on Tuesday, August 1st. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by $0.04. Equities analysts anticipate that Zynerba Pharmaceuticals will post ($2.46) earnings per share for the current fiscal year.

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

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

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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