Zynerba Pharmaceuticals Inc (ZYNE) Receives Average Rating of “Buy” from Brokerages

Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) has been given a consensus rating of “Buy” by the nine analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $20.90.

Several analysts have weighed in on ZYNE shares. Cantor Fitzgerald started coverage on Zynerba Pharmaceuticals in a research note on Friday, September 21st. They set an “overweight” rating and a $21.00 target price on the stock. HC Wainwright set a $23.00 target price on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, August 6th. Zacks Investment Research downgraded Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. Canaccord Genuity cut their target price on Zynerba Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, August 3rd. Finally, ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th.

In other Zynerba Pharmaceuticals news, CFO James E. Fickenscher bought 8,518 shares of the business’s stock in a transaction on Monday, August 6th. The shares were purchased at an average price of $5.97 per share, with a total value of $50,852.46. Following the purchase, the chief financial officer now directly owns 20,718 shares of the company’s stock, valued at $123,686.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Armando Anido bought 15,000 shares of the business’s stock in a transaction on Monday, August 6th. The shares were acquired at an average cost of $5.96 per share, for a total transaction of $89,400.00. Following the purchase, the chairman now directly owns 352,512 shares in the company, valued at $2,100,971.52. The disclosure for this purchase can be found here. Insiders have acquired a total of 32,318 shares of company stock worth $194,404 in the last ninety days. 12.67% of the stock is owned by company insiders.



Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in shares of Zynerba Pharmaceuticals by 385.6% during the 1st quarter. JPMorgan Chase & Co. now owns 12,217 shares of the company’s stock valued at $106,000 after purchasing an additional 9,701 shares during the period. Raymond James & Associates acquired a new position in shares of Zynerba Pharmaceuticals during the 2nd quarter valued at $164,000. Engineers Gate Manager LP acquired a new position in shares of Zynerba Pharmaceuticals during the 2nd quarter valued at $231,000. Jane Street Group LLC acquired a new position in shares of Zynerba Pharmaceuticals during the 2nd quarter valued at $239,000. Finally, LMR Partners LLP acquired a new position in shares of Zynerba Pharmaceuticals during the 2nd quarter valued at $312,000. 14.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ ZYNE traded up $0.11 during mid-day trading on Monday, hitting $6.10. The company had a trading volume of 192,086 shares, compared to its average volume of 357,081. Zynerba Pharmaceuticals has a 12 month low of $5.59 and a 12 month high of $15.14.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its quarterly earnings results on Thursday, August 2nd. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.12). On average, research analysts forecast that Zynerba Pharmaceuticals will post -3.13 earnings per share for the current year.

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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Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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