Zynerba Pharmaceuticals, Inc. (ZYNE) Given a $15.00 Price Target by Roth Capital Analysts
Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) has been assigned a $15.00 price target by research analysts at Roth Capital in a report released on Sunday. The brokerage presently has a “buy” rating on the stock. Roth Capital’s target price suggests a potential upside of 70.07% from the company’s current price.
Several other research analysts have also issued reports on the company. Zacks Investment Research raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. ValuEngine raised Zynerba Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Cantor Fitzgerald restated an “overweight” rating and set a $28.00 price target on shares of Zynerba Pharmaceuticals in a report on Tuesday, August 8th. CIBC restated a “market perform” rating on shares of Zynerba Pharmaceuticals in a research report on Tuesday, August 15th. Finally, Piper Jaffray Companies raised shares of Zynerba Pharmaceuticals from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $7.00 to $16.00 in a research note on Thursday. 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’s stock. The company currently has an average rating of “Hold” and a consensus target price of $15.78.
Shares of Zynerba Pharmaceuticals (NASDAQ ZYNE) traded up 6.10% during midday trading on Friday, hitting $8.87. 1,510,802 shares of the stock traded hands. The firm’s 50-day moving average is $6.28 and its 200 day moving average is $6.28. The company’s market capitalization is $117.59 million. Zynerba Pharmaceuticals has a 52 week low of $6.10 and a 52 week high of $23.57.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its 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 analysts forecast that Zynerba Pharmaceuticals will post ($2.42) earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZYNE. Nationwide Fund Advisors acquired a new position in shares of Zynerba Pharmaceuticals during the second quarter worth approximately $110,000. The Manufacturers Life Insurance Company acquired a new position in shares of Zynerba Pharmaceuticals during the second quarter valued at about $158,000. FNY Managed Accounts LLC bought a new stake in shares of Zynerba Pharmaceuticals during the first quarter worth about $180,000. SG Americas Securities LLC bought a new stake in shares of Zynerba Pharmaceuticals during the first quarter worth about $188,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Zynerba Pharmaceuticals during the second quarter worth about $207,000. Hedge funds and other institutional investors own 34.32% of the company’s stock.
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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