Zynerba Pharmaceuticals, Inc. (ZYNE) Receives Average Rating of “Hold” from Analysts
Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) has received a consensus rating of “Hold” from the twelve ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $12.83.
Several research firms recently weighed in on ZYNE. Oppenheimer Holdings, Inc. cut shares of Zynerba Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, August 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 target price on shares of Zynerba Pharmaceuticals in a report on Tuesday, August 8th. Jefferies Group LLC lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating and lowered their target price for the stock from $12.00 to $7.00 in a report on Tuesday, August 15th. ValuEngine raised shares of Zynerba Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Finally, Zacks Investment Research raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, July 13th.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nationwide Fund Advisors acquired a new position in Zynerba Pharmaceuticals in the 2nd quarter worth $110,000. The Manufacturers Life Insurance Company acquired a new position in Zynerba Pharmaceuticals in the 2nd quarter worth $158,000. FNY Managed Accounts LLC acquired a new position in Zynerba Pharmaceuticals in the 1st quarter worth $180,000. SG Americas Securities LLC acquired a new position in Zynerba Pharmaceuticals in the 1st quarter worth $188,000. Finally, New York State Common Retirement Fund acquired a new position in Zynerba Pharmaceuticals in the 2nd quarter worth $207,000. 34.32% of the stock is owned by hedge funds and other institutional investors.
Shares of Zynerba Pharmaceuticals (NASDAQ ZYNE) traded up 4.22% during trading on Wednesday, reaching $10.37. The company’s stock had a trading volume of 870,793 shares. Zynerba Pharmaceuticals has a 12 month low of $5.42 and a 12 month high of $25.95. The company’s market capitalization is $137.48 million. The company’s 50-day moving average is $7.56 and its 200-day moving average is $7.56.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings data 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). On average, analysts forecast that Zynerba Pharmaceuticals will post ($2.42) EPS for the current fiscal year.
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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