FY2017 EPS Estimates for Zynerba Pharmaceuticals, Inc. Cut by Analyst (ZYNE)

Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) – Equities research analysts at Oppenheimer Holdings cut their FY2017 EPS estimates for shares of Zynerba Pharmaceuticals in a note issued to investors on Tuesday. Oppenheimer Holdings analyst D. Archila now forecasts that the company will earn ($2.49) per share for the year, down from their previous estimate of ($2.31). Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Zynerba Pharmaceuticals’ Q4 2017 earnings at ($0.61) EPS, FY2018 earnings at ($2.06) EPS, FY2019 earnings at ($1.66) EPS, FY2020 earnings at ($1.22) EPS and FY2021 earnings at ($1.13) EPS.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its earnings results on Tuesday, November 14th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.05). During the same period in the prior year, the company posted ($0.67) EPS.

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A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Thursday, October 12th. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Maxim Group set a $32.00 target price on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Cantor Fitzgerald upgraded shares of Zynerba Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $4.00 to $17.00 in a research note on Monday, October 2nd. Finally, HC Wainwright set a $30.00 target price on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Zynerba Pharmaceuticals has an average rating of “Hold” and an average price target of $14.67.

Shares of Zynerba Pharmaceuticals (ZYNE) opened at $13.88 on Friday. Zynerba Pharmaceuticals has a one year low of $5.42 and a one year high of $25.95.

In related news, major shareholder Michael Rapp acquired 44,255 shares of Zynerba Pharmaceuticals stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 10.02% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC raised its position in shares of Zynerba Pharmaceuticals by 230.7% during the third quarter. Perceptive Advisors LLC now owns 130,700 shares of the company’s stock valued at $1,320,000 after buying an additional 230,700 shares during the last quarter. Cowen Inc. bought a new stake in shares of Zynerba Pharmaceuticals during the third quarter valued at approximately $167,000. RTW Investments LP bought a new stake in shares of Zynerba Pharmaceuticals during the third quarter valued at approximately $1,672,000. Granite Point Capital Management L.P. raised its position in shares of Zynerba Pharmaceuticals by 47.9% during the third quarter. Granite Point Capital Management L.P. now owns 200,000 shares of the company’s stock valued at $1,672,000 after buying an additional 64,800 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Zynerba Pharmaceuticals during the third quarter valued at approximately $263,000. Hedge funds and other institutional investors own 34.72% of the company’s stock.

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.

Earnings History and Estimates for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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