Shares of Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) have received an average recommendation of “Buy” from the eight analysts that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $21.13.
A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald assumed coverage on Zynerba Pharmaceuticals in a research report on Friday, September 21st. They set an “overweight” rating and a $21.00 price objective on the stock. Zacks Investment Research downgraded Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, September 22nd. Finally, HC Wainwright set a $23.00 price objective on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, November 13th.
A number of hedge funds and other institutional investors have recently modified their holdings of ZYNE. Thompson Siegel & Walmsley LLC acquired a new stake in Zynerba Pharmaceuticals in the third quarter worth about $157,000. Raymond James & Associates acquired a new stake in Zynerba Pharmaceuticals in the second quarter worth about $164,000. GSA Capital Partners LLP acquired a new stake in Zynerba Pharmaceuticals in the third quarter worth about $177,000. Zeke Capital Advisors LLC acquired a new stake in shares of Zynerba Pharmaceuticals during the third quarter worth about $193,000. Finally, Jane Street Group LLC acquired a new stake in shares of Zynerba Pharmaceuticals during the second quarter worth about $239,000. 16.50% of the stock is owned by institutional investors and hedge funds.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings data on Thursday, November 8th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.23. On average, sell-side analysts predict that Zynerba Pharmaceuticals will post -2.87 EPS for the current fiscal 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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