Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) received a $28.00 price target from equities research analysts at Cantor Fitzgerald in a report issued on Monday. The brokerage presently has a “buy” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 42.49% from the stock’s current price.
ZYNE has been the topic of a number of other research reports. Roth Capital increased their price target on Zynerba Pharmaceuticals from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, March 20th. Maxim Group reissued a “buy” rating and set a $32.00 price target on shares of Zynerba Pharmaceuticals in a research note on Monday, March 13th. Jefferies Group LLC reissued a “buy” rating and set a $32.00 price target on shares of Zynerba Pharmaceuticals in a research note on Tuesday, December 6th. Zacks Investment Research raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Saturday, February 18th. Finally, HC Wainwright reissued a “buy” rating and set a $22.00 price target on shares of Zynerba Pharmaceuticals in a research note on Friday, December 16th. Nine analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $30.56.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) traded up 6.36% on Monday, reaching $20.90. The company had a trading volume of 303,126 shares. The firm has a 50-day moving average of $20.67 and a 200-day moving average of $15.83. Zynerba Pharmaceuticals has a 12 month low of $6.02 and a 12 month high of $23.75. The stock’s market capitalization is $208.02 million.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings results on Monday, March 27th. The company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.04. During the same period in the previous year, the business posted ($0.62) EPS. On average, equities research analysts expect that Zynerba Pharmaceuticals will post ($2.59) earnings per share for the current fiscal year.
In other news, major shareholder Michael Rapp bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 29th. The shares were acquired at an average cost of $15.85 per share, with a total value of $158,500.00. Following the transaction, the insider now owns 1,354,115 shares of the company’s stock, valued at approximately $21,462,722.75. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 10.02% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Putnam Investments LLC purchased a new position in shares of Zynerba Pharmaceuticals during the fourth quarter valued at $725,000. Perceptive Advisors LLC purchased a new position in shares of Zynerba Pharmaceuticals during the fourth quarter valued at $13,128,000. GSA Capital Partners LLP purchased a new position in shares of Zynerba Pharmaceuticals during the fourth quarter valued at $214,000. Finally, J. Goldman & Co LP purchased a new position in shares of Zynerba Pharmaceuticals during the fourth quarter valued at $1,113,000. 15.00% of the stock is currently owned by institutional investors and hedge funds.
Zynerba Pharmaceuticals Company Profile
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. The Company intends to study ZYN002 in patients with refractory epilepsy, osteoarthritis and Fragile X syndrome.
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