Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) was downgraded by research analysts at Jefferies Group LLC from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, MarketBeat reports. They currently have a $7.00 price objective on the stock, down from their previous price objective of $12.00. Jefferies Group LLC’s price target would suggest a potential upside of 12.18% from the stock’s previous close.

A number of other research firms also recently commented on ZYNE. Oppenheimer Holdings, Inc. set a $8.00 price objective on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, August 7th. BidaskClub raised shares of 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 shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Canaccord Genuity set a $35.00 price objective on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, May 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. Zynerba Pharmaceuticals currently has an average rating of “Hold” and an average target price of $15.56.

Zynerba Pharmaceuticals (NASDAQ ZYNE) traded down 2.80% during midday trading on Tuesday, reaching $6.24. 925,887 shares of the company traded hands. Zynerba Pharmaceuticals has a 12 month low of $5.42 and a 12 month high of $25.95. The company’s 50-day moving average price is $15.62 and its 200 day moving average price is $18.99. The firm’s market capitalization is $82.72 million.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings data on Tuesday, August 1st. The company reported ($0.64) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.60) by $0.04. On average, equities analysts anticipate that Zynerba Pharmaceuticals will post ($2.42) earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This piece of content was first reported by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another publication, it was illegally copied and republished in violation of United States and international copyright legislation. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/08/15/jefferies-group-llc-downgrades-zynerba-pharmaceuticals-inc-zyne-to-hold.html.

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased 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 worth $8,559,000 after buying an additional 149,094 shares during the period. Marshall Wace North America L.P. acquired a new stake in Zynerba Pharmaceuticals during the first quarter worth about $9,362,000. MARSHALL WACE ASIA Ltd acquired a new stake in Zynerba Pharmaceuticals during the first quarter worth about $1,645,000. Chartwell Investment Partners LLC acquired a new stake in Zynerba Pharmaceuticals during the first quarter worth about $1,516,000. Finally, Segantii Capital Management Ltd acquired a new stake in Zynerba Pharmaceuticals during the first quarter worth about $291,000. 26.74% of the stock is owned by hedge funds and other 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)

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.