Northern Trust Corp Reduces Stake in Zynerba Pharmaceuticals Inc (ZYNE)
Northern Trust Corp lessened its holdings in Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) by 62.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,741 shares of the company’s stock after selling 104,601 shares during the period. Northern Trust Corp owned about 0.36% of Zynerba Pharmaceuticals worth $612,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James & Associates acquired a new stake in shares of Zynerba Pharmaceuticals in the 2nd quarter worth about $164,000. Engineers Gate Manager LP purchased a new stake in Zynerba Pharmaceuticals in the 2nd quarter valued at about $231,000. Jane Street Group LLC purchased a new stake in Zynerba Pharmaceuticals in the 2nd quarter valued at about $239,000. LMR Partners LLP purchased a new stake in Zynerba Pharmaceuticals in the 2nd quarter valued at about $312,000. Finally, Paloma Partners Management Co purchased a new stake in Zynerba Pharmaceuticals in the 2nd quarter valued at about $493,000. Institutional investors own 16.50% of the company’s stock.
Several research firms have commented on ZYNE. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Cantor Fitzgerald began coverage on shares of Zynerba Pharmaceuticals in a research note on Friday, September 21st. They issued an “overweight” rating and a $21.00 price objective for the company. Zacks Investment Research lowered shares of Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. Finally, HC Wainwright set a $23.00 price objective on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, November 13th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.75.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its earnings results on Thursday, November 8th. The company reported ($0.47) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.70) by $0.23. On average, sell-side analysts anticipate that Zynerba Pharmaceuticals Inc will post -2.87 earnings per share for the current fiscal year.
About Zynerba Pharmaceuticals
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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