Zynerba Pharmaceuticals, Inc. (ZYNE) Downgraded to Strong Sell at ValuEngine
Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Monday.
Several other research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and set a $32.00 price target on shares of Zynerba Pharmaceuticals in a research report on Sunday, July 9th. Cantor Fitzgerald restated a “buy” rating and set a $28.00 price target on shares of Zynerba Pharmaceuticals in a research report on Tuesday, May 9th. BidaskClub upgraded shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Maxim Group set a $32.00 price target on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Zynerba Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $29.11.
Shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) traded down 55.71% on Monday, hitting $6.67. The stock had a trading volume of 9,000,677 shares. The firm’s market cap is $88.42 million. Zynerba Pharmaceuticals has a 12 month low of $5.93 and a 12 month high of $25.95. The firm’s 50-day moving average price is $17.81 and its 200 day moving average price is $19.61.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its quarterly earnings results on Tuesday, August 1st. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.60) by $0.04. Analysts anticipate that Zynerba Pharmaceuticals will post ($2.46) EPS for the current fiscal year.
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In other Zynerba Pharmaceuticals news, CFO James E. Fickenscher acquired 5,200 shares of the business’s stock in a transaction on Friday, May 12th. The stock was bought at an average price of $19.82 per share, for a total transaction of $103,064.00. Following the acquisition, the chief financial officer now owns 12,200 shares in the company, valued at $241,804. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Armando Anido acquired 5,000 shares of the business’s stock in a transaction on Monday, May 15th. The stock was acquired at an average price of $19.70 per share, with a total value of $98,500.00. Following the acquisition, the chairman now 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 corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new stake in Zynerba Pharmaceuticals during the first quarter worth approximately $9,362,000. Vanguard Group Inc. boosted its stake in 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 purchased a new stake in Zynerba Pharmaceuticals during the second quarter valued at $2,366,000. Sphera Funds Management LTD. purchased a new stake in Zynerba Pharmaceuticals during the first quarter valued at $2,010,000. Finally, Granite Point Capital Management L.P. purchased a new stake in Zynerba Pharmaceuticals during the first quarter valued at $1,990,000. Institutional investors 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.
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