Other equities analysts have also recently issued research reports about the company. Oppenheimer reaffirmed a hold rating on shares of Zynerba Pharmaceuticals in a research note on Tuesday, March 13th. Ladenburg Thalmann assumed coverage on Zynerba Pharmaceuticals in a research note on Monday, January 29th. They set a buy rating and a $25.50 target price on the stock. Seaport Global Securities assumed coverage on Zynerba Pharmaceuticals in a research note on Friday, January 26th. They set a buy rating and a $16.00 target price on the stock. Cantor Fitzgerald set a $20.00 target price on Zynerba Pharmaceuticals and gave the company a buy rating in a research note on Monday, March 12th. Finally, Zacks Investment Research raised Zynerba Pharmaceuticals from a hold rating to a buy rating and set a $12.00 target price on the stock in a research note on Thursday, March 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $17.86.
NASDAQ:ZYNE opened at $9.96 on Monday. Zynerba Pharmaceuticals has a fifty-two week low of $5.42 and a fifty-two week high of $24.94. The stock has a market cap of $135.88, a price-to-earnings ratio of -4.02 and a beta of 4.94.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its earnings results on Monday, March 12th. The company reported ($0.60) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.60). During the same period in the previous year, the firm posted ($0.71) EPS. equities research analysts forecast that Zynerba Pharmaceuticals will post -2.63 earnings per share for the current year.
In other news, major shareholder Michael Rapp purchased 10,000 shares of Zynerba Pharmaceuticals stock in a transaction dated Thursday, March 22nd. The stock was acquired at an average cost of $9.28 per share, for a total transaction of $92,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.91% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in ZYNE. State Street Corp acquired a new stake in shares of Zynerba Pharmaceuticals during the 2nd quarter valued at about $2,698,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Zynerba Pharmaceuticals during the 2nd quarter valued at about $158,000. California State Teachers Retirement System acquired a new stake in shares of Zynerba Pharmaceuticals during the 2nd quarter valued at about $343,000. Wells Fargo & Company MN lifted its holdings in shares of Zynerba Pharmaceuticals by 3,759.5% during the 3rd quarter. Wells Fargo & Company MN now owns 34,079 shares of the company’s stock valued at $285,000 after buying an additional 33,196 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Zynerba Pharmaceuticals during the 3rd quarter valued at about $263,000. Institutional investors and hedge funds own 28.93% of the company’s stock.
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About Zynerba Pharmaceuticals
Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. The company focuses on developing and commercializing pharmaceutically-produced transdermal cannabinoid treatments for rare or near-rare neuropsychiatric disorders. Its product candidates include ZYN002, which completed Phase II clinical trial for pediatric and adolescent patients with fragile X syndrome, pediatric and adolescent patients with developmental and epileptic encephalopathies, and adult patients with refractory epileptic focal seizures; and ZYN001 that is in Phase I clinical trial to treat Tourette syndrome.
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