Zynerba Pharmaceuticals (NASDAQ:ZYNE) Upgraded to “Sell” by ValuEngine

ValuEngine upgraded shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) from a strong sell rating to a sell rating in a report published on Thursday morning, ValuEngine reports.

ZYNE has been the topic of a number of other research reports. LADENBURG THALM/SH SH reaffirmed a buy rating and issued a $26.00 price objective on shares of Zynerba Pharmaceuticals in a report on Wednesday, September 18th. Zacks Investment Research downgraded Zynerba Pharmaceuticals from a hold rating to a sell rating in a research note on Saturday, November 9th. Jefferies Financial Group restated a hold rating and issued a $11.00 price target on shares of Zynerba Pharmaceuticals in a research note on Monday, September 16th. Finally, Needham & Company LLC began coverage on Zynerba Pharmaceuticals in a research report on Monday, October 21st. They issued a buy rating and a $18.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $19.71.

ZYNE traded down $0.02 during trading on Thursday, hitting $5.63. The stock had a trading volume of 374,813 shares, compared to its average volume of 1,433,092. The firm has a market capitalization of $131.07 million, a P/E ratio of -2.16 and a beta of 4.62. The company’s 50-day moving average price is $7.01 and its 200 day moving average price is $10.30. Zynerba Pharmaceuticals has a twelve month low of $2.75 and a twelve month high of $16.47.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its earnings results on Wednesday, November 6th. The company reported ($0.44) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.08. As a group, analysts predict that Zynerba Pharmaceuticals will post -1.72 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the company. NEXT Financial Group Inc boosted its stake in shares of Zynerba Pharmaceuticals by 1,190.0% during the 2nd quarter. NEXT Financial Group Inc now owns 1,935 shares of the company’s stock worth $26,000 after acquiring an additional 1,785 shares in the last quarter. Prestige Wealth Management Group LLC acquired a new position in Zynerba Pharmaceuticals during the second quarter worth $54,000. Wells Fargo & Company MN raised its holdings in Zynerba Pharmaceuticals by 110.1% during the second quarter. Wells Fargo & Company MN now owns 4,205 shares of the company’s stock worth $57,000 after purchasing an additional 2,204 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in Zynerba Pharmaceuticals during the second quarter worth $72,000. Finally, Sterling Investment Advisors Ltd. purchased a new stake in Zynerba Pharmaceuticals during the second quarter worth $81,000. Institutional investors own 45.21% of the company’s stock.

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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