ZYNE has been the subject of a number of other research reports. Needham & Company LLC assumed coverage on Zynerba Pharmaceuticals in a research note on Monday, October 21st. They issued a “buy” rating and a $18.00 target price for the company. Zacks Investment Research lowered Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 9th. Finally, Roth Capital started coverage on Zynerba Pharmaceuticals in a research report on Tuesday, December 31st. They set a “buy” rating and a $12.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $16.29.
ZYNE opened at $5.05 on Wednesday. The stock has a market cap of $120.63 million, a PE ratio of -3.39 and a beta of 4.56. The business has a 50 day moving average of $5.74 and a 200-day moving average of $8.17. Zynerba Pharmaceuticals has a 52 week low of $4.46 and a 52 week high of $16.47.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its earnings results on Wednesday, November 6th. The company reported ($0.44) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.08. Sell-side analysts predict that Zynerba Pharmaceuticals will post -1.52 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of Zynerba Pharmaceuticals by 8.9% in the 3rd quarter. State Street Corp now owns 383,997 shares of the company’s stock worth $2,903,000 after purchasing an additional 31,345 shares in the last quarter. Penserra Capital Management LLC bought a new stake in shares of Zynerba Pharmaceuticals in the 3rd quarter worth $141,000. Virtu Financial LLC bought a new stake in shares of Zynerba Pharmaceuticals in the 3rd quarter worth $170,000. Commonwealth Equity Services LLC increased its holdings in shares of Zynerba Pharmaceuticals by 34.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 18,092 shares of the company’s stock worth $136,000 after purchasing an additional 4,600 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Zynerba Pharmaceuticals by 127.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,232,456 shares of the company’s stock worth $16,700,000 after purchasing an additional 691,342 shares in the last quarter. 45.15% of the stock is owned by institutional investors.
About Zynerba Pharmaceuticals
Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. It focuses on developing pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. The company is developing Zygel, a transdermal cannabidiol gel, which is in Phase II clinical trial for treating children and adolescent patients with developmental and epileptic encephalopathies; is in Phase II/III clinical trial to treat children and adolescent patients with fragile X syndrome; and is in Phase II clinical trial for treating children and adolescent patients with autism spectrum disorder.
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