Zynerba Pharmaceuticals Inc (ZYNE) Receives Consensus Recommendation of “Hold” from Analysts

Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) has received an average rating of “Hold” from the fourteen brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $17.69.

ZYNE has been the subject of several research reports. Zacks Investment Research raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, December 8th. Piper Jaffray Companies lifted their target price on Zynerba Pharmaceuticals from $16.00 to $20.00 in a report on Tuesday, November 14th. Oppenheimer reissued a “hold” rating on shares of Zynerba Pharmaceuticals in a report on Tuesday, November 14th. Cantor Fitzgerald set a $17.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Finally, Canaccord Genuity set a $18.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, December 4th.

In related 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 bought at an average price of $12.99 per share, for a total transaction of $194,850.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.91% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nationwide Fund Advisors bought a new position in shares of Zynerba Pharmaceuticals in the second quarter worth $110,000. Zeke Capital Advisors LLC bought a new position in shares of Zynerba Pharmaceuticals in the third quarter worth $114,000. The Manufacturers Life Insurance Company bought a new position in shares of Zynerba Pharmaceuticals in the second quarter worth $158,000. Cowen Inc. bought a new position in shares of Zynerba Pharmaceuticals in the third quarter worth $167,000. Finally, New York State Common Retirement Fund bought a new position in shares of Zynerba Pharmaceuticals in the second quarter worth $207,000. Institutional investors own 26.20% of the company’s stock.

Shares of Zynerba Pharmaceuticals (NASDAQ ZYNE) traded up $0.04 during trading on Tuesday, reaching $11.37. The company’s stock had a trading volume of 187,800 shares, compared to its average volume of 350,969. Zynerba Pharmaceuticals has a fifty-two week low of $5.42 and a fifty-two week high of $25.95. The firm has a market cap of $153.57, a P/E ratio of -4.41 and a beta of 5.20.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its quarterly earnings results on Tuesday, November 14th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.05). During the same quarter last year, the business earned ($0.67) earnings per share. analysts expect that Zynerba Pharmaceuticals will post -2.47 earnings per share for the current fiscal year.

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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.

Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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