Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) Receives Average Recommendation of “Hold” from Analysts

Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) has received a consensus rating of “Hold” from the ten analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $21.83.

A number of equities research analysts have recently commented on the company. LADENBURG THALM/SH SH restated a “buy” rating and set a $26.00 target price on shares of Zynerba Pharmaceuticals in a research report on Wednesday, September 18th. Zacks Investment Research cut Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a 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. Needham & Company LLC started coverage on Zynerba Pharmaceuticals in a research report on Monday, October 21st. They set a “buy” rating and a $18.00 price target on the stock. Finally, ValuEngine lowered Zynerba Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 19th.

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in shares of Zynerba Pharmaceuticals in the second quarter valued at about $210,000. Penserra Capital Management LLC purchased a new position in Zynerba Pharmaceuticals in the 3rd quarter valued at about $141,000. Cetera Investment Advisers purchased a new position in Zynerba Pharmaceuticals in the 2nd quarter valued at about $151,000. Vanguard Group Inc. boosted its holdings in 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 buying an additional 691,342 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Zynerba Pharmaceuticals by 36.3% in the 2nd quarter. Northern Trust Corp now owns 99,498 shares of the company’s stock worth $1,348,000 after buying an additional 26,502 shares during the last quarter. 45.21% of the stock is currently owned by institutional investors and hedge funds.

ZYNE stock traded down $0.13 during midday trading on Tuesday, hitting $6.03. 373,868 shares of the stock traded hands, compared to its average volume of 1,447,448. The firm has a market cap of $142.91 million, a P/E ratio of -2.31 and a beta of 4.62. The stock’s fifty day simple moving average is $7.09 and its 200-day simple moving average is $10.39. Zynerba Pharmaceuticals has a 1-year low of $2.75 and a 1-year high of $16.47.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.08. Sell-side analysts anticipate that Zynerba Pharmaceuticals will post -1.72 EPS for the current year.

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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Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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