Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $13.63 and last traded at $13.51, with a volume of 1643695 shares changing hands. The stock had previously closed at $12.94.
ZYNE has been the topic of several research reports. ValuEngine downgraded Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Roth Capital initiated coverage on Zynerba Pharmaceuticals in a research report on Tuesday, April 30th. They issued a “buy” rating and a $36.00 target price on the stock. Cantor Fitzgerald reissued a “buy” rating and issued a $11.00 target price on shares of Zynerba Pharmaceuticals in a research report on Thursday, March 7th. Zacks Investment Research raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research report on Saturday, January 19th. Finally, HC Wainwright reissued a “buy” rating on shares of Zynerba Pharmaceuticals in a research report on Monday, March 18th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $18.52.
The stock has a market capitalization of $278.40 million, a price-to-earnings ratio of -5.07 and a beta of 5.62.
Several hedge funds have recently bought and sold shares of ZYNE. Virtu Financial LLC purchased a new stake in shares of Zynerba Pharmaceuticals during the 4th quarter worth about $40,000. Two Sigma Investments LP purchased a new position in Zynerba Pharmaceuticals in the 4th quarter valued at about $120,000. Bernardo Wealth Planning LLC lifted its stake in Zynerba Pharmaceuticals by 5.3% in the 1st quarter. Bernardo Wealth Planning LLC now owns 25,419 shares of the company’s stock valued at $138,000 after buying an additional 1,278 shares in the last quarter. Jane Street Group LLC lifted its stake 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 in the last quarter. Finally, Campbell Capital Management Inc. purchased a new position in Zynerba Pharmaceuticals in the 4th quarter valued at about $510,000. 12.93% of the stock is currently owned by institutional investors and hedge funds.
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Zynerba Pharmaceuticals Company Profile (NASDAQ:ZYNE)
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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