Zynerba Pharmaceuticals Inc (ZYNE) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) posted its quarterly earnings results on Monday. The company reported ($0.71) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.75) by $0.04. During the same period last year, the firm earned ($0.62) earnings per share.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) opened at 19.65 on Monday. The firm’s market cap is $195.58 million. Zynerba Pharmaceuticals has a 12 month low of $6.02 and a 12 month high of $23.75. The company has a 50-day moving average price of $20.67 and a 200 day moving average price of $15.83.

Earnings History for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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In other Zynerba Pharmaceuticals news, major shareholder Michael Rapp purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 29th. The stock was purchased 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 in the company, valued at $21,462,722.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.02% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in ZYNE. Perceptive Advisors LLC purchased a new stake in shares of Zynerba Pharmaceuticals during the fourth quarter valued at about $13,128,000. J. Goldman & Co LP purchased a new stake in shares of Zynerba Pharmaceuticals during the fourth quarter valued at about $1,113,000. Putnam Investments LLC purchased a new stake in shares of Zynerba Pharmaceuticals during the fourth quarter valued at about $725,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Zynerba Pharmaceuticals during the fourth quarter valued at about $214,000. 15.00% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have weighed in on the company. Oppenheimer Holdings Inc. set a $29.00 price target on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, December 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $28.00 price target on shares of Zynerba Pharmaceuticals in a research note on Thursday, January 5th. Roth Capital raised their price target on Zynerba Pharmaceuticals from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, March 20th. HC Wainwright restated a “buy” rating and issued a $22.00 price target on shares of Zynerba Pharmaceuticals in a research note on Friday, December 16th. Finally, Zacks Investment Research upgraded 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. Nine analysts have rated the stock with a buy rating, Zynerba Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $30.56.

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.

5 Day Chart for NASDAQ:ZYNE

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