Wall Street brokerages predict that Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) will post earnings per share (EPS) of ($0.74) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Zynerba Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.84) and the highest estimate coming in at ($0.66). Zynerba Pharmaceuticals reported earnings per share of ($0.64) in the same quarter last year, which suggests a negative year over year growth rate of 15.6%. The company is expected to issue its next quarterly earnings results on Tuesday, August 7th.
On average, analysts expect that Zynerba Pharmaceuticals will report full year earnings of ($3.03) per share for the current year, with EPS estimates ranging from ($3.38) to ($2.78). For the next financial year, analysts anticipate that the firm will post earnings of ($2.69) per share, with EPS estimates ranging from ($3.12) to ($2.36). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Zynerba Pharmaceuticals.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings data on Tuesday, May 8th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.68) by ($0.23).
ZYNE has been the subject of a number of recent analyst reports. Cantor Fitzgerald set a $20.00 price target on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, April 25th. Oppenheimer reaffirmed a “hold” rating on shares of Zynerba Pharmaceuticals in a report on Tuesday, May 8th. HC Wainwright set a $23.00 price target on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, March 6th. Seaport Global Securities reaffirmed a “buy” rating on shares of Zynerba Pharmaceuticals in a report on Tuesday, March 13th. Finally, ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $17.86.
In related news, major shareholder Michael Rapp acquired 5,885 shares of the stock in a transaction that occurred on Wednesday, May 30th. The stock was acquired at an average cost of $10.45 per share, for a total transaction of $61,498.25. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.67% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in Zynerba Pharmaceuticals by 385.6% during the 1st quarter. JPMorgan Chase & Co. now owns 12,217 shares of the company’s stock worth $106,000 after purchasing an additional 9,701 shares in the last quarter. Alliancebernstein L.P. acquired a new position in Zynerba Pharmaceuticals in the 4th quarter valued at approximately $264,000. Alps Advisors Inc. increased its position in Zynerba Pharmaceuticals by 142.1% in the 1st quarter. Alps Advisors Inc. now owns 36,356 shares of the company’s stock valued at $316,000 after acquiring an additional 21,337 shares during the period. Wells Fargo & Company MN increased its position in Zynerba Pharmaceuticals by 19.6% in the 1st quarter. Wells Fargo & Company MN now owns 41,414 shares of the company’s stock valued at $360,000 after acquiring an additional 6,782 shares during the period. Finally, A.R.T. Advisors LLC increased its position in Zynerba Pharmaceuticals by 33.7% in the 1st quarter. A.R.T. Advisors LLC now owns 86,877 shares of the company’s stock valued at $754,000 after acquiring an additional 21,879 shares during the period. Institutional investors and hedge funds own 21.84% of the company’s stock.
Shares of Zynerba Pharmaceuticals traded down $0.82, reaching $11.57, on Friday, Marketbeat.com reports. 1,693,865 shares of the stock were exchanged, compared to its average volume of 226,248. Zynerba Pharmaceuticals has a one year low of $5.42 and a one year high of $20.73. The company has a market cap of $168.02 million, a PE ratio of -4.67 and a beta of 4.86.
Zynerba Pharmaceuticals Company Profile
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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