Zacks: Analysts Anticipate Zynerba Pharmaceuticals Inc (ZYNE) to Post -$0.64 Earnings Per Share

Analysts forecast that Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) will announce earnings per share (EPS) of ($0.64) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Zynerba Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.61) and the lowest estimate coming in at ($0.66). Zynerba Pharmaceuticals posted earnings of ($0.71) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.9%. The business is expected to report its next quarterly earnings results on Monday, March 26th.

On average, analysts expect that Zynerba Pharmaceuticals will report full-year earnings of ($2.49) per share for the current year, with EPS estimates ranging from ($2.54) to ($2.45). For the next financial year, analysts expect that the business will report earnings of ($2.34) per share, with EPS estimates ranging from ($2.64) to ($2.06). Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Zynerba Pharmaceuticals.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings data on Tuesday, November 14th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.05). During the same quarter last year, the business earned ($0.67) EPS.

A number of equities analysts have recently weighed in on ZYNE shares. Piper Jaffray Companies raised shares of Zynerba Pharmaceuticals from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $7.00 to $16.00 in a research report on Thursday, September 28th. Canaccord Genuity boosted their price objective on shares of Zynerba Pharmaceuticals from $9.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, September 29th. Oppenheimer reaffirmed a “hold” rating on shares of Zynerba Pharmaceuticals in a research report on Friday, September 29th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $4.00 price target on shares of Zynerba Pharmaceuticals in a research report on Thursday, September 28th. Finally, Roth Capital set a $15.00 price target on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Sunday, October 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $15.00.

In related news, major shareholder Michael Rapp purchased 44,255 shares of the company’s stock in a transaction that occurred on Thursday, October 19th. The stock was purchased at an average price of $9.59 per share, with a total value of $424,405.45. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 85,000 shares of company stock valued at $875,161 in the last ninety days. 9.91% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. Perceptive Advisors LLC increased its position in Zynerba Pharmaceuticals by 230.7% during the third quarter. Perceptive Advisors LLC now owns 130,700 shares of the company’s stock worth $1,320,000 after purchasing an additional 230,700 shares during the last quarter. Cowen Inc. acquired a new position in Zynerba Pharmaceuticals during the third quarter worth approximately $167,000. RTW Investments LP acquired a new stake in shares of Zynerba Pharmaceuticals in the third quarter worth $1,672,000. Granite Point Capital Management L.P. increased its position in shares of Zynerba Pharmaceuticals by 47.9% in the third quarter. Granite Point Capital Management L.P. now owns 200,000 shares of the company’s stock worth $1,672,000 after acquiring an additional 64,800 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Zynerba Pharmaceuticals in the third quarter worth $263,000. 26.71% of the stock is owned by hedge funds and other institutional investors.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) opened at $11.79 on Monday. The firm has a market cap of $159.80 and a P/E ratio of -4.55. Zynerba Pharmaceuticals has a 52-week low of $5.42 and a 52-week high of $25.95.

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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.

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

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