Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) – Equities research analysts at Roth Capital reduced their FY2019 earnings per share estimates for Zynerba Pharmaceuticals in a research report issued on Monday. Roth Capital analyst M. Higgins now expects that the firm will post earnings per share of ($0.86) for the year, down from their prior estimate of ($0.80). Roth Capital currently has a “Buy” rating and a $25.00 price target on the stock. Roth Capital also issued estimates for Zynerba Pharmaceuticals’ FY2020 earnings at $0.21 EPS.
A number of other analysts have also recently weighed in on the stock. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $29.00 price target on shares of Zynerba Pharmaceuticals in a research note on Tuesday, June 28th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $42.00 price target on shares of Zynerba Pharmaceuticals in a research note on Tuesday, July 26th. Zacks Investment Research cut shares of Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, October 12th. Canaccord Genuity reiterated a “buy” rating and set a $35.00 price target on shares of Zynerba Pharmaceuticals in a research note on Wednesday, September 7th. Finally, HC Wainwright started coverage on shares of Zynerba Pharmaceuticals in a research note on Friday, October 7th. They set a “buy” rating and a $22.00 price target for the company. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $27.64.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) traded up 5.00% during trading on Wednesday, reaching $11.54. 127,098 shares of the company were exchanged. Zynerba Pharmaceuticals has a 12 month low of $4.64 and a 12 month high of $21.56. The stock has a 50 day moving average price of $11.61 and a 200 day moving average price of $9.25. The firm’s market capitalization is $106.16 million.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its earnings results on Thursday, August 11th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by $0.18. Zynerba Pharmaceuticals had a negative return on equity of 51.49% and a negative net margin of 5,681.48%.
Several hedge funds have recently added to or reduced their stakes in the company. Alpine Partners VI LLC purchased a new stake in Zynerba Pharmaceuticals during the second quarter valued at approximately $113,000. State Street Corp boosted its stake in Zynerba Pharmaceuticals by 1.5% in the first quarter. State Street Corp now owns 37,629 shares of the company’s stock valued at $356,000 after buying an additional 562 shares during the period. Emerald Advisers Inc. PA boosted its stake in Zynerba Pharmaceuticals by 5.6% in the second quarter. Emerald Advisers Inc. PA now owns 176,514 shares of the company’s stock valued at $1,209,000 after buying an additional 9,329 shares during the period. Finally, Cormorant Asset Management LLC boosted its stake in Zynerba Pharmaceuticals by 33.2% in the first quarter. Cormorant Asset Management LLC now owns 475,035 shares of the company’s stock valued at $4,489,000 after buying an additional 118,435 shares during the period. Institutional investors own 23.79% of the company’s stock.
In other news, insider Suzanne M. Hanlon sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $10.53, for a total value of $31,590.00. Following the completion of the sale, the insider now owns 39,893 shares in the company, valued at approximately $420,073.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.02% of the stock is currently owned by insiders.
About Zynerba Pharmaceuticals
Zynerba Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing and commercializing synthetic cannabinoid therapeutics formulated for transdermal delivery. The Company is evaluating approximately two product candidates, ZYN002 and ZYN001, in over five indications, including refractory epilepsy, Fragile X syndrome (FXS), osteoarthritis (OA), fibromyalgia and peripheral neuropathic pain.
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