Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) was downgraded by Oppenheimer Holdings, Inc. from an “outperform” rating to a “market perform” rating in a report released on Monday.

Other equities research analysts have also recently issued research reports about the company. Roth Capital set a $30.00 price target on Zynerba Pharmaceuticals and gave the company a “buy” rating in a report on Saturday, June 10th. Canaccord Genuity set a $35.00 price target on Zynerba Pharmaceuticals and gave the company a “buy” rating in a report on Saturday, May 13th. Maxim Group reaffirmed a “hold” rating on shares of Zynerba Pharmaceuticals in a report on Monday. Cantor Fitzgerald set a $4.00 price target on Zynerba Pharmaceuticals and gave the company a “hold” rating in a report on Monday. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $12.00 price target (down previously from $32.00) on shares of Zynerba Pharmaceuticals in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.33.

Zynerba Pharmaceuticals (NASDAQ ZYNE) opened at 6.42 on Monday. Zynerba Pharmaceuticals has a one year low of $5.42 and a one year high of $25.95. The stock’s market cap is $85.11 million. The stock has a 50 day moving average price of $15.62 and a 200-day moving average price of $18.99.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings results on Tuesday, August 1st. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.60) by $0.04. Equities research analysts expect that Zynerba Pharmaceuticals will post ($2.42) earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of 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 buying an additional 149,094 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Zynerba Pharmaceuticals during the first quarter valued at $9,362,000. MARSHALL WACE ASIA Ltd acquired a new position in shares of Zynerba Pharmaceuticals during the first quarter valued at $1,645,000. Chartwell Investment Partners LLC acquired a new position in shares of Zynerba Pharmaceuticals during the first quarter valued at $1,516,000. Finally, Segantii Capital Management Ltd acquired a new position in shares of Zynerba Pharmaceuticals during the first quarter valued at $291,000. Institutional investors own 26.74% of the company’s stock.

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)

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