Zynerba Pharmaceuticals (ZYNE) Upgraded at ValuEngine

Share on StockTwits

ValuEngine upgraded shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

Other research analysts have also issued research reports about the company. Roth Capital began coverage on Zynerba Pharmaceuticals in a research report on Tuesday. They set a buy rating and a $36.00 price target on the stock. Cantor Fitzgerald reaffirmed a buy rating and set a $11.00 price target on shares of Zynerba Pharmaceuticals in a research report on Thursday, March 7th. Canaccord Genuity began coverage on Zynerba Pharmaceuticals in a research report on Monday, April 22nd. They set a buy rating and a $8.09 price target on the stock. HC Wainwright reaffirmed a buy rating on shares of Zynerba Pharmaceuticals in a research report on Monday, March 18th. Finally, Zacks Investment Research raised Zynerba Pharmaceuticals from a hold rating to a buy rating and set a $4.50 price target on the stock in a research report on Saturday, January 19th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Zynerba Pharmaceuticals presently has an average rating of Buy and a consensus target price of $17.02.

Shares of NASDAQ ZYNE opened at $11.10 on Tuesday. Zynerba Pharmaceuticals has a fifty-two week low of $2.75 and a fifty-two week high of $13.06. The stock has a market cap of $263.86 million, a PE ratio of -4.25 and a beta of 5.60.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its earnings results on Monday, March 11th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.21. The business had revenue of $0.09 million for the quarter. Research analysts forecast that Zynerba Pharmaceuticals will post -2.1 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZYNE. BlackRock Inc. grew its stake in shares of Zynerba Pharmaceuticals by 0.9% in the 4th quarter. BlackRock Inc. now owns 300,949 shares of the company’s stock valued at $893,000 after purchasing an additional 2,594 shares during the last quarter. Virtu Financial LLC grew its stake in shares of Zynerba Pharmaceuticals by 66.9% in the 1st quarter. Virtu Financial LLC now owns 22,384 shares of the company’s stock valued at $121,000 after purchasing an additional 8,970 shares during the last quarter. Campbell Capital Management Inc. grew its stake in shares of Zynerba Pharmaceuticals by 5.3% in the 1st quarter. Campbell Capital Management Inc. now owns 180,787 shares of the company’s stock valued at $980,000 after purchasing an additional 9,100 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Zynerba Pharmaceuticals by 44.6% in the 3rd quarter. Jane Street Group LLC now owns 35,555 shares of the company’s stock valued at $290,000 after purchasing an additional 10,967 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Zynerba Pharmaceuticals in the 3rd quarter valued at approximately $177,000. 12.94% of the stock is currently owned by institutional investors.

Zynerba Pharmaceuticals Company Profile

Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. It focuses on developing pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. The company is developing Zygel, a transdermal cannabidiol gel, which is in Phase II clinical trial for treating children and adolescent patients with developmental and epileptic encephalopathies; is in Phase II/III clinical trial to treat children and adolescent patients with fragile X syndrome; and is in Phase II clinical trial for treating children and adolescent patients with autism spectrum disorder.

Featured Story: The risks of owning bonds

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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