Zynerba Pharmaceuticals (ZYNE) Raised to Buy at Zacks Investment Research

Zynerba Pharmaceuticals (NASDAQ:ZYNE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The firm presently has a $4.50 price target on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 15.68% from the stock’s current price.

According to Zacks, “Zynerba Pharmaceuticals, Inc. is a specialty pharmaceutical company which focuses on developing and commercializing proprietary synthetic cannabinoid therapeutics formulated for transdermal delivery. Its product candidates which are in clinical trial stage include ZYN002 and ZYN001 synthetic transdermal cannabinoid therapeutics for indications including refractory epilepsy, Fragile X syndrome, osteoarthritis, fibromyalgia and peripheral neuropathic pain. Zynerba Pharmaceuticals, Inc. is headquartered in Devon, Pennsylvania. “

Several other research firms have also issued reports on ZYNE. Cantor Fitzgerald restated a “buy” rating and set a $21.00 target price on shares of Zynerba Pharmaceuticals in a research report on Tuesday, October 2nd. HC Wainwright set a $23.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, November 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $17.50.

ZYNE stock traded down $0.06 during midday trading on Friday, reaching $3.89. The stock had a trading volume of 201,969 shares, compared to its average volume of 332,970. The firm has a market cap of $69.63 million, a price-to-earnings ratio of -1.57 and a beta of 4.28. Zynerba Pharmaceuticals has a twelve month low of $2.75 and a twelve month high of $12.98.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its quarterly earnings data on Thursday, November 8th. The company reported ($0.47) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.70) by $0.23. On average, analysts expect that Zynerba Pharmaceuticals will post -2.87 EPS for the current year.

Several institutional investors have recently bought and sold shares of ZYNE. Virtu Financial LLC acquired a new position in shares of Zynerba Pharmaceuticals in the 4th quarter valued at approximately $40,000. Thompson Siegel & Walmsley LLC acquired a new position in shares of Zynerba Pharmaceuticals in the 3rd quarter valued at approximately $157,000. Raymond James & Associates acquired a new position in shares of Zynerba Pharmaceuticals in the 2nd quarter valued at approximately $164,000. GSA Capital Partners LLP acquired a new position in shares of Zynerba Pharmaceuticals in the 3rd quarter valued at approximately $177,000. Finally, Zeke Capital Advisors LLC acquired a new position in shares of Zynerba Pharmaceuticals in the 3rd quarter valued at approximately $193,000. Institutional investors own 16.50% of the company’s stock.

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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