ValuEngine upgraded shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) from a strong sell rating to a sell rating in a research report report published on Tuesday, January 7th, ValuEngine reports.
Several other equities analysts also recently weighed in on ZYNE. Zacks Investment Research downgraded Zynerba Pharmaceuticals from a hold rating to a sell rating in a research report on Saturday, November 9th. Jefferies Financial Group reaffirmed a hold rating and issued a $11.00 price target on shares of Zynerba Pharmaceuticals in a report on Monday, September 16th. Roth Capital initiated coverage on Zynerba Pharmaceuticals in a report on Tuesday, December 31st. They issued a buy rating and a $12.00 price target for the company. Needham & Company LLC initiated coverage on Zynerba Pharmaceuticals in a report on Monday, October 21st. They issued a buy rating and a $18.00 price target for the company. Finally, LADENBURG THALM/SH SH reaffirmed a buy rating and issued a $26.00 price target on shares of Zynerba Pharmaceuticals in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Zynerba Pharmaceuticals presently has an average rating of Buy and an average price target of $16.29.
Shares of ZYNE traded down $0.01 during mid-day trading on Tuesday, reaching $5.04. The company had a trading volume of 366,841 shares, compared to its average volume of 606,176. The stock has a market capitalization of $116.92 million, a P/E ratio of -3.38 and a beta of 4.56. The stock has a 50 day moving average of $5.72 and a two-hundred day moving average of $8.12. Zynerba Pharmaceuticals has a 52-week low of $4.46 and a 52-week high of $16.47.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.08. Analysts anticipate that Zynerba Pharmaceuticals will post -1.52 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of ZYNE. ETF Managers Group LLC acquired a new stake in shares of Zynerba Pharmaceuticals in the second quarter valued at $30,323,000. BlackRock Inc. boosted its holdings in Zynerba Pharmaceuticals by 341.4% in the second quarter. BlackRock Inc. now owns 1,311,995 shares of the company’s stock valued at $17,778,000 after purchasing an additional 1,014,749 shares during the period. Vanguard Group Inc. lifted its holdings in Zynerba Pharmaceuticals by 127.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,232,456 shares of the company’s stock worth $16,700,000 after buying an additional 691,342 shares during the last quarter. AdvisorShares Investments LLC purchased a new stake in Zynerba Pharmaceuticals during the 4th quarter worth about $1,629,000. Finally, JPMorgan Chase & Co. purchased a new stake in Zynerba Pharmaceuticals during the 2nd quarter worth about $1,865,000. 45.15% of the stock is owned by institutional investors and hedge funds.
Zynerba Pharmaceuticals Company Profile
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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