Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) major shareholder Michael Rapp purchased 44,255 shares of the firm’s stock in a transaction dated Thursday, October 19th. The shares were bought at an average price of $9.59 per share, with a total value of $424,405.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Michael Rapp also recently made the following trade(s):

  • On Monday, October 23rd, Michael Rapp purchased 25,745 shares of Zynerba Pharmaceuticals stock. The shares were bought at an average price of $9.94 per share, with a total value of $255,905.30.

Shares of Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) traded up 1.75% during mid-day trading on Monday, reaching $9.90. The company had a trading volume of 483,291 shares. The firm’s 50-day moving average is $8.19 and its 200 day moving average is $8.19. The company’s market capitalization is $131.24 million. Zynerba Pharmaceuticals, Inc. has a 12 month low of $5.42 and a 12 month high of $25.95.

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

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZYNE. JPMorgan Chase & Co. raised its position in shares of Zynerba Pharmaceuticals by 65,190.0% in the second quarter. JPMorgan Chase & Co. now owns 326,450 shares of the company’s stock valued at $5,539,000 after buying an additional 325,950 shares in the last quarter. Citigroup Inc. raised its position in shares of Zynerba Pharmaceuticals by 13,501.1% in the second quarter. Citigroup Inc. now owns 221,698 shares of the company’s stock valued at $3,762,000 after buying an additional 220,068 shares in the last quarter. State Street Corp acquired a new stake in shares of Zynerba Pharmaceuticals in the second quarter valued at approximately $2,698,000. Vanguard Group Inc. raised its position in shares of 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 in the last quarter. Finally, Pennsylvania Trust Co acquired a new stake in shares of Zynerba Pharmaceuticals in the second quarter valued at approximately $2,366,000. Institutional investors own 34.32% of the company’s stock.

Several analysts have recently issued reports on the company. Zacks Investment Research downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Roth Capital set a $15.00 price target on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Sunday, October 1st. Cantor Fitzgerald upgraded Zynerba Pharmaceuticals from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $4.00 to $17.00 in a research note on Monday, October 2nd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Zynerba Pharmaceuticals in a research note on Friday, September 29th. Finally, Canaccord Genuity upped their price target on Zynerba Pharmaceuticals from $9.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, September 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Zynerba Pharmaceuticals has a consensus rating of “Hold” and an average target price of $14.22.

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.

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