Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) has earned a consensus rating of “Hold” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $14.00.
Several equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 18th. Roth Capital set a $15.00 price target on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, October 1st. Cantor Fitzgerald set a $17.00 price target on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Canaccord Genuity set a $18.00 price target on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, December 4th. Finally, Piper Jaffray Companies upped their price target on shares of Zynerba Pharmaceuticals from $16.00 to $20.00 in a research note on Tuesday, November 14th.
Shares of Zynerba Pharmaceuticals (ZYNE) traded down $0.07 on Friday, reaching $11.43. 229,800 shares of the company’s stock were exchanged, compared to its average volume of 363,383. Zynerba Pharmaceuticals has a 1 year low of $5.42 and a 1 year high of $25.95. The company has a market capitalization of $155.73 and a price-to-earnings ratio of -4.41.
In other Zynerba Pharmaceuticals news, major shareholder Michael Rapp purchased 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were acquired at an average cost of $12.99 per share, for a total transaction of $194,850.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.91% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Nationwide Fund Advisors acquired a new stake in shares of Zynerba Pharmaceuticals during the 2nd quarter worth approximately $110,000. Zeke Capital Advisors LLC bought a new stake in shares of Zynerba Pharmaceuticals during the 3rd quarter worth $114,000. The Manufacturers Life Insurance Company bought a new stake in shares of Zynerba Pharmaceuticals during the 2nd quarter worth $158,000. Cowen Inc. bought a new stake in shares of Zynerba Pharmaceuticals during the 3rd quarter worth $167,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Zynerba Pharmaceuticals during the 2nd quarter worth $207,000. Hedge funds and other institutional investors own 26.71% of the company’s stock.
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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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