Zynerba Pharmaceuticals, Inc. (ZYNE) Rating Reiterated by Oppenheimer Holdings, Inc.

Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE)‘s stock had its “hold” rating reiterated by research analysts at Oppenheimer Holdings, Inc. in a research report issued on Tuesday.

A number of other research firms have also weighed in on ZYNE. Cantor Fitzgerald lowered shares of Zynerba Pharmaceuticals from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $28.00 to $4.00 in a research note on Monday, August 7th. Maxim Group lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Piper Jaffray Companies lowered shares of Zynerba Pharmaceuticals from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $42.00 to $7.00 in a research note on Monday, August 7th. HC Wainwright set a $30.00 price target on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research lowered shares of Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. 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. The company presently has a consensus rating of “Hold” and a consensus price target of $14.67.

Shares of Zynerba Pharmaceuticals (ZYNE) opened at $13.45 on Tuesday. Zynerba Pharmaceuticals has a one year low of $5.42 and a one year high of $25.95.

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In other Zynerba Pharmaceuticals news, major shareholder Michael Rapp bought 25,745 shares of Zynerba Pharmaceuticals stock in a transaction on Monday, October 23rd. The stock was bought at an average price of $9.94 per share, with a total value of $255,905.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 10.02% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley lifted its holdings in Zynerba Pharmaceuticals by 220.3% in the first quarter. Morgan Stanley now owns 57,752 shares of the company’s stock valued at $1,161,000 after acquiring an additional 39,722 shares during the period. Vanguard Group Inc. lifted its holdings in Zynerba Pharmaceuticals by 53.9% in the first quarter. Vanguard Group Inc. now owns 425,811 shares of the company’s stock valued at $8,559,000 after acquiring an additional 149,094 shares during the period. Citigroup Inc. lifted its holdings in Zynerba Pharmaceuticals by 13,501.1% in the second quarter. Citigroup Inc. now owns 221,698 shares of the company’s stock valued at $3,762,000 after acquiring an additional 220,068 shares during the period. Geode Capital Management LLC lifted its holdings in Zynerba Pharmaceuticals by 57.6% in the first quarter. Geode Capital Management LLC now owns 76,015 shares of the company’s stock valued at $1,527,000 after acquiring an additional 27,789 shares during the period. Finally, Granite Point Capital Management L.P. lifted its holdings in Zynerba Pharmaceuticals by 36.6% in the second quarter. Granite Point Capital Management L.P. now owns 135,200 shares of the company’s stock valued at $2,294,000 after acquiring an additional 36,200 shares during the period. 34.72% of the stock is owned by institutional investors.

About Zynerba Pharmaceuticals

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)

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