Zynerba Pharmaceuticals, Inc. (ZYNE) Price Target Raised to $20.00 at Piper Jaffray Companies

Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) had its target price lifted by stock analysts at Piper Jaffray Companies from $16.00 to $20.00 in a research note issued on Tuesday. Piper Jaffray Companies’ price target points to a potential upside of 65.15% from the company’s current price.

Several other research firms have also weighed in on ZYNE. Oppenheimer Holdings, Inc. set a $8.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, August 7th. Maxim Group set a $32.00 target price on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, August 1st. CIBC reiterated a “market perform” rating on shares of Zynerba Pharmaceuticals in a report on Tuesday, August 15th. Zacks Investment Research upgraded Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Canaccord Genuity lifted their target price on Zynerba Pharmaceuticals from $9.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, September 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Zynerba Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $14.67.

Zynerba Pharmaceuticals (ZYNE) traded down $0.33 during trading hours on Tuesday, hitting $12.11. The stock had a trading volume of 892,600 shares, compared to its average volume of 649,127. Zynerba Pharmaceuticals has a 1-year low of $5.42 and a 1-year high of $25.95.

ILLEGAL ACTIVITY NOTICE: “Zynerba Pharmaceuticals, Inc. (ZYNE) Price Target Raised to $20.00 at Piper Jaffray Companies” was reported by Week Herald and is the property of of Week Herald. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US & international copyright legislation. The legal version of this piece of content can be accessed at https://weekherald.com/2017/11/14/zynerba-pharmaceuticals-inc-zyne-price-target-raised-to-20-00-at-piper-jaffray-companies.html.

In other news, major shareholder Michael Rapp purchased 25,745 shares of the business’s stock in a transaction dated Monday, October 23rd. The shares were bought at an average cost of $9.94 per share, for a total transaction of $255,905.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 10.02% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors acquired a new stake in shares of Zynerba Pharmaceuticals in the second quarter valued at about $110,000. The Manufacturers Life Insurance Company acquired a new position in Zynerba Pharmaceuticals during the second quarter worth approximately $158,000. Bank of New York Mellon Corp increased its position in Zynerba Pharmaceuticals by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 12,165 shares of the company’s stock worth $245,000 after buying an additional 635 shares during the last quarter. New York State Common Retirement Fund acquired a new position in Zynerba Pharmaceuticals during the second quarter worth approximately $207,000. Finally, Parametric Portfolio Associates LLC acquired a new position in Zynerba Pharmaceuticals during the second quarter worth approximately $223,000. 34.72% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

Receive News & Ratings for Zynerba Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynerba Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply