Cantor Fitzgerald upgraded shares of Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) from a neutral rating to an overweight rating in a report released on Monday morning, Marketbeat reports. The brokerage currently has $17.00 price target on the stock, up from their previous price target of $4.00.

Other equities analysts have also recently issued research reports about the stock. Oppenheimer Holdings, Inc. set a $8.00 price target on shares of Zynerba Pharmaceuticals and gave the company a buy rating in a research report on Monday, August 7th. Jefferies Group LLC reiterated a buy rating and set a $32.00 price target on shares of Zynerba Pharmaceuticals in a research report on Sunday, July 9th. Maxim Group set a $32.00 price target on shares of Zynerba Pharmaceuticals and gave the company a buy rating in a research report on Monday, June 26th. Roth Capital set a $30.00 price target on shares of Zynerba Pharmaceuticals and gave the company a buy rating in a research report on Saturday, June 10th. Finally, HC Wainwright set a $30.00 price target on shares of Zynerba Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $14.63.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) opened at 10.11 on Monday. Zynerba Pharmaceuticals has a 52-week low of $5.80 and a 52-week high of $23.57. The stock’s 50 day moving average is $7.23 and its 200-day moving average is $7.23. The company’s market cap is $134.03 million.

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

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Large investors have recently bought and sold shares of the stock. Nationwide Fund Advisors bought a new stake in Zynerba Pharmaceuticals during the second quarter worth about $110,000. FNY Managed Accounts LLC bought a new stake in Zynerba Pharmaceuticals during the first quarter worth about $180,000. The Manufacturers Life Insurance Company bought a new stake in Zynerba Pharmaceuticals during the second quarter worth about $158,000. SG Americas Securities LLC bought a new stake in Zynerba Pharmaceuticals during the first quarter worth about $188,000. Finally, Bank of New York Mellon Corp boosted its stake in Zynerba Pharmaceuticals by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 12,165 shares of the company’s stock worth $245,000 after acquiring an additional 635 shares in the last quarter. 34.32% of the stock is currently owned by institutional investors and hedge funds.

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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