Zynerba Pharmaceuticals Inc (ZYNE) Given a $28.00 Price Target by Cantor Fitzgerald Analysts

Cantor Fitzgerald set a $28.00 price target on Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) in a research note published on Thursday. The firm currently has a buy rating on the stock.

Several other research analysts have also recently commented on the stock. Maxim Group reiterated a buy rating and issued a $32.00 target price on shares of Zynerba Pharmaceuticals in a report on Thursday. Zacks Investment Research cut shares of Zynerba Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, May 30th. Jefferies Group LLC reiterated a buy rating and issued a $32.00 target price on shares of Zynerba Pharmaceuticals in a report on Thursday, May 25th. Canaccord Genuity set a $35.00 target price on shares of Zynerba Pharmaceuticals and gave the stock a buy rating in a report on Saturday, May 13th. Finally, Roth Capital set a $30.00 target price on shares of Zynerba Pharmaceuticals and gave the stock a buy rating in a report on Saturday, May 13th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $31.44.

Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

Zynerba Pharmaceuticals (ZYNE) traded up 1.69% on Thursday, reaching $18.69. 181,409 shares of the company’s stock were exchanged. Zynerba Pharmaceuticals has a 1-year low of $6.31 and a 1-year high of $25.95. The firm’s market capitalization is $247.62 million. The stock’s 50 day moving average price is $19.72 and its 200 day moving average price is $19.01.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its earnings results on Tuesday, May 9th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.55) by $0.05. On average, analysts expect that Zynerba Pharmaceuticals will post ($2.43) earnings per share for the current year.

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In related news, CFO James E. Fickenscher purchased 5,200 shares of Zynerba Pharmaceuticals stock in a transaction dated Friday, May 12th. The stock was acquired at an average cost of $19.82 per share, with a total value of $103,064.00. Following the completion of the transaction, the chief financial officer now directly owns 12,200 shares of the company’s stock, valued at $241,804. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Armando Anido purchased 5,000 shares of Zynerba Pharmaceuticals stock in a transaction dated Monday, May 15th. The stock was bought at an average cost of $19.70 per share, with a total value of $98,500.00. Following the completion of the transaction, the chairman now directly owns 336,012 shares of the company’s stock, valued at $6,619,436.40. The disclosure for this purchase can be found here. 10.02% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Perceptive Advisors LLC bought a new stake in Zynerba Pharmaceuticals during the fourth quarter worth about $13,128,000. Marshall Wace North America L.P. bought a new stake in Zynerba Pharmaceuticals during the first quarter worth about $9,362,000. Vanguard Group Inc. raised its stake in Zynerba Pharmaceuticals by 53.9% in the first quarter. Vanguard Group Inc. now owns 425,811 shares of the company’s stock worth $8,559,000 after buying an additional 149,094 shares during the period. Sphera Funds Management LTD. bought a new stake in Zynerba Pharmaceuticals during the first quarter worth about $2,010,000. Finally, Granite Point Capital Management L.P. bought a new stake in Zynerba Pharmaceuticals during the first quarter worth about $1,990,000. 15.00% of the stock is owned by institutional investors and hedge funds.

About Zynerba Pharmaceuticals

Zynerba Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company is engaged in developing and commercializing transdermal synthetic cannabinoid treatments for patients with high unmet needs. Its development pipeline includes two product candidates: ZYN002 and ZYN001. ZYN002 is a synthetic cannabidiol (CBD), which is a non-psychoactive cannabinoid, formulated as a patent-protected permeation-enhanced gel for transdermal delivery through the skin and into the circulatory system.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ZYNE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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