Zacks Investment Research Upgrades Zynerba Pharmaceuticals (ZYNE) to “Hold”

Zacks Investment Research upgraded shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) from a sell rating to a hold rating in a research note issued to investors on Friday, December 8th.

According to Zacks, “Zynerba Pharmaceuticals, Inc. is a specialty pharmaceutical company which focuses on developing and commercializing proprietary synthetic cannabinoid therapeutics formulated for transdermal delivery. Its product candidates which are in clinical trial stage include ZYN002 and ZYN001 synthetic transdermal cannabinoid therapeutics for indications including refractory epilepsy, Fragile X syndrome, osteoarthritis, fibromyalgia and peripheral neuropathic pain. Zynerba Pharmaceuticals, Inc. is headquartered in Devon, Pennsylvania. “

A number of other analysts have also recently commented on the company. ValuEngine upgraded Zynerba Pharmaceuticals from a strong sell rating to a sell rating in a research report on Friday, September 1st. Piper Jaffray Companies lifted their target price on Zynerba Pharmaceuticals from $16.00 to $20.00 in a research report on Tuesday, November 14th. Oppenheimer reiterated a hold rating on shares of Zynerba Pharmaceuticals in a research report on Tuesday, November 14th. Cantor Fitzgerald set a $17.00 target price on Zynerba Pharmaceuticals and gave the stock a buy rating in a research report on Monday, November 20th. Finally, Canaccord Genuity set a $18.00 price target on Zynerba Pharmaceuticals and gave the company a buy rating in a research report on Monday, December 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $15.00.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) traded up $0.47 on Friday, hitting $13.00. The stock had a trading volume of 295,600 shares, compared to its average volume of 364,029. Zynerba Pharmaceuticals has a twelve month low of $5.42 and a twelve month high of $25.95. The firm has a market capitalization of $176.13 and a PE ratio of -5.02.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its earnings results on Tuesday, November 14th. The company reported ($0.63) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($0.05). During the same period last year, the business posted ($0.67) earnings per share. equities research analysts predict that Zynerba Pharmaceuticals will post -2.49 earnings per share for the current year.

In related news, major shareholder Michael Rapp purchased 44,255 shares of the company’s stock in a transaction that occurred on Thursday, October 19th. The shares were purchased at an average price of $9.59 per share, for a total transaction of $424,405.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 9.91% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Nationwide Fund Advisors acquired a new position in Zynerba Pharmaceuticals in the 2nd quarter valued at about $110,000. Zeke Capital Advisors LLC acquired a new position in Zynerba Pharmaceuticals in the 3rd quarter valued at about $114,000. The Manufacturers Life Insurance Company acquired a new position in Zynerba Pharmaceuticals in the 2nd quarter valued at about $158,000. Cowen Inc. purchased a new stake in Zynerba Pharmaceuticals in the 3rd quarter valued at approximately $167,000. Finally, New York State Common Retirement Fund purchased a new stake in Zynerba Pharmaceuticals in the 2nd quarter valued at approximately $207,000. Hedge funds and other institutional investors own 26.71% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was reported by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.truebluetribune.com/2018/01/03/zynerba-pharmaceuticals-zyne-lifted-to-hold-at-zacks-investment-research.html.

Zynerba Pharmaceuticals Company Profile

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.

Get a free copy of the Zacks research report on Zynerba Pharmaceuticals (ZYNE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

Receive News & Ratings for Zynerba Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynerba Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply