Cantor Fitzgerald reaffirmed their overweight rating on shares of Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) in a report issued on Tuesday. Cantor Fitzgerald currently has a $28.00 price target on the stock. Cantor Fitzgerald also issued estimates for Zynerba Pharmaceuticals’ FY2017 earnings at ($2.48) EPS and FY2018 earnings at ($2.41) EPS.
Several other equities research analysts also recently weighed in on ZYNE. Roth Capital set a $30.00 price objective on Zynerba Pharmaceuticals and gave the company a buy rating in a report on Saturday, May 13th. Canaccord Genuity set a $35.00 price objective on Zynerba Pharmaceuticals and gave the company a buy rating in a report on Saturday, May 13th. HC Wainwright downgraded Zynerba Pharmaceuticals from a buy rating to a neutral rating and decreased their price objective for the company from $30.00 to $7.00 in a report on Tuesday. ValuEngine downgraded Zynerba Pharmaceuticals from a sell rating to a strong sell rating in a report on Monday, August 7th. Finally, Oppenheimer Holdings, Inc. set a $8.00 price objective on Zynerba Pharmaceuticals and gave the company a buy rating in a report on Monday, August 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and an average price target of $17.89.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) traded down 3.17% during trading on Tuesday, reaching $7.03. 1,282,232 shares of the company’s stock were exchanged. The stock’s market capitalization is $93.20 million. The stock has a 50-day moving average of $15.98 and a 200-day moving average of $19.06. Zynerba Pharmaceuticals has a 52 week low of $5.93 and a 52 week high of $25.95.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings data on Tuesday, August 1st. The company reported ($0.64) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by $0.04. On average, equities research analysts anticipate that Zynerba Pharmaceuticals will post ($2.42) EPS for the current year.
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In related news, Chairman Armando Anido purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was purchased at an average cost of $19.70 per share, with a total value of $98,500.00. Following the completion of the acquisition, the chairman now directly owns 336,012 shares in the company, valued at $6,619,436.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 10.02% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in shares of Zynerba Pharmaceuticals by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 12,165 shares of the company’s stock valued at $245,000 after buying an additional 635 shares in the last quarter. Nationwide Fund Advisors bought a new stake in shares of Zynerba Pharmaceuticals during the second quarter valued at $110,000. FNY Managed Accounts LLC bought a new stake in shares of Zynerba Pharmaceuticals during the first quarter valued at $180,000. SG Americas Securities LLC bought a new stake in shares of Zynerba Pharmaceuticals during the first quarter valued at $188,000. Finally, Rothschild Investment Corp IL increased its stake in shares of Zynerba Pharmaceuticals by 25.1% in the second quarter. Rothschild Investment Corp IL now owns 57,070 shares of the company’s stock valued at $968,000 after buying an additional 11,450 shares in the last quarter. 31.08% of the stock is owned by hedge funds and other institutional investors.
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.
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