Cantor Fitzgerald Reiterates “$21.00” Price Target for Zynerba Pharmaceuticals (ZYNE)

Cantor Fitzgerald set a $21.00 target price on Zynerba Pharmaceuticals (NASDAQ:ZYNE) in a research report sent to investors on Wednesday morning. The firm currently has a buy rating on the stock.

Several other equities research analysts have also commented on ZYNE. Zacks Investment Research raised shares of Zynerba Pharmaceuticals from a hold rating to a buy rating and set a $6.00 price target for the company in a report on Saturday, November 17th. ValuEngine raised shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, August 14th. Finally, 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, November 13th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Zynerba Pharmaceuticals currently has a consensus rating of Buy and a consensus price target of $17.75.

ZYNE opened at $4.80 on Wednesday. Zynerba Pharmaceuticals has a 1 year low of $4.50 and a 1 year high of $14.45.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings results on Thursday, November 8th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.23. Analysts forecast that Zynerba Pharmaceuticals will post -2.87 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of ZYNE. Thompson Siegel & Walmsley LLC purchased a new stake in Zynerba Pharmaceuticals in the 3rd quarter worth $157,000. Raymond James & Associates purchased a new stake in Zynerba Pharmaceuticals in the 2nd quarter worth $164,000. GSA Capital Partners LLP purchased a new stake in shares of Zynerba Pharmaceuticals during the third quarter worth $177,000. Zeke Capital Advisors LLC purchased a new stake in shares of Zynerba Pharmaceuticals during the third quarter worth $193,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Zynerba Pharmaceuticals during the second quarter worth $231,000. 16.50% of the stock is owned by institutional investors.

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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Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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