Cantor Fitzgerald set a $17.00 target price on Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) in a research note released on Monday morning. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Oppenheimer Holdings, Inc. downgraded Zynerba Pharmaceuticals from an outperform rating to a market perform rating in a report on Monday, August 14th. Zacks Investment Research downgraded Zynerba Pharmaceuticals from a hold rating to a sell rating in a report on Saturday. Jefferies Group LLC downgraded Zynerba Pharmaceuticals from a buy rating to a hold rating and cut their price objective for the company from $12.00 to $7.00 in a report on Tuesday, August 15th. ValuEngine raised Zynerba Pharmaceuticals from a strong sell rating to a sell rating in a report on Friday, September 1st. Finally, HC Wainwright set a $30.00 price objective on Zynerba Pharmaceuticals and gave the company a buy rating in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $14.67.

Zynerba Pharmaceuticals (ZYNE) opened at $13.44 on Monday. Zynerba Pharmaceuticals has a 12-month low of $5.42 and a 12-month high of $25.95.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its quarterly earnings results 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 period in the previous year, the business earned ($0.67) earnings per share. research analysts anticipate that Zynerba Pharmaceuticals will post -2.46 EPS for the current year.

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In other Zynerba Pharmaceuticals news, major shareholder Michael Rapp purchased 25,745 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The shares were acquired at an average price of $9.94 per share, for a total transaction of $255,905.30. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 10.02% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley raised its stake in Zynerba Pharmaceuticals by 220.3% in the 1st quarter. Morgan Stanley now owns 57,752 shares of the company’s stock valued at $1,161,000 after acquiring an additional 39,722 shares during the period. Vanguard Group Inc. raised its stake in Zynerba Pharmaceuticals by 53.9% in the 1st quarter. Vanguard Group Inc. now owns 425,811 shares of the company’s stock valued at $8,559,000 after acquiring an additional 149,094 shares during the period. Citigroup Inc. raised its stake in Zynerba Pharmaceuticals by 13,501.1% in the 2nd quarter. Citigroup Inc. now owns 221,698 shares of the company’s stock valued at $3,762,000 after acquiring an additional 220,068 shares during the period. Geode Capital Management LLC raised its stake in Zynerba Pharmaceuticals by 57.6% in the 1st quarter. Geode Capital Management LLC now owns 76,015 shares of the company’s stock valued at $1,527,000 after acquiring an additional 27,789 shares during the period. Finally, Granite Point Capital Management L.P. raised its stake in Zynerba Pharmaceuticals by 36.6% in the 2nd quarter. Granite Point Capital Management L.P. now owns 135,200 shares of the company’s stock valued at $2,294,000 after acquiring an additional 36,200 shares during the period. Institutional investors and hedge funds own 23.59% 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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