Zynerba Pharmaceuticals (NASDAQ:ZYNE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The brokerage presently has a $7.00 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 22.81% from the stock’s previous close.
According to Zacks, “Zynerba Pharmaceuticals, Inc. is a specialty pharmaceutical company which focuses on developing and commercializing proprietary synthetic cannabinoid therapeutics formulated for transdermal delivery. Its product candidates which are in clinical trial stage include ZYN002 and ZYN001 synthetic transdermal cannabinoid therapeutics for indications including refractory epilepsy, Fragile X syndrome, osteoarthritis, fibromyalgia and peripheral neuropathic pain. Zynerba Pharmaceuticals, Inc. is headquartered in Devon, Pennsylvania. “
ZYNE has been the topic of a number of other research reports. Cantor Fitzgerald set a $21.00 target price on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, December 17th. ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Zynerba Pharmaceuticals in a research report on Monday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $14.00.
ZYNE stock traded down $0.45 on Friday, reaching $5.70. 18,026 shares of the company were exchanged, compared to its average volume of 1,223,422. Zynerba Pharmaceuticals has a 12 month low of $2.75 and a 12 month high of $12.50. The firm has a market capitalization of $129.58 million, a P/E ratio of -2.20 and a beta of 4.93.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its earnings results on Monday, March 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.65) by $0.21. The company had revenue of $0.09 million for the quarter. As a group, equities analysts anticipate that Zynerba Pharmaceuticals will post -2.1 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in Zynerba Pharmaceuticals in the 4th quarter valued at $40,000. Two Sigma Investments LP bought a new stake in Zynerba Pharmaceuticals in the 4th quarter valued at $120,000. GSA Capital Partners LLP bought a new stake in Zynerba Pharmaceuticals in the 3rd quarter valued at $177,000. Jane Street Group LLC increased its holdings in Zynerba Pharmaceuticals by 44.6% in the 3rd quarter. Jane Street Group LLC now owns 35,555 shares of the company’s stock valued at $290,000 after buying an additional 10,967 shares during the period. Finally, Campbell Capital Management Inc. bought a new stake in Zynerba Pharmaceuticals in the 4th quarter valued at $510,000. 12.86% of the stock is currently owned by hedge funds and other institutional investors.
Zynerba Pharmaceuticals Company Profile
Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. The company focuses on developing and commercializing pharmaceutically-produced transdermal cannabinoid treatments for rare or near-rare neuropsychiatric disorders. Its product candidates include ZYN002, which completed Phase II clinical trial for pediatric and adolescent patients with fragile X syndrome, pediatric and adolescent patients with developmental and epileptic encephalopathies, and adult patients with refractory epileptic focal seizures; and ZYN001 that is in Phase I clinical trial to treat Tourette syndrome.
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