Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) has received an average rating of “Hold” from the twelve brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $8.17.

ZYNE has been the topic of a number of research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $32.00 price objective on shares of Zynerba Pharmaceuticals in a research report on Thursday, May 25th. Maxim Group set a $32.00 price objective 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 objective on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, June 10th. Cantor Fitzgerald set a $28.00 price objective on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, June 8th. Finally, HC Wainwright set a $30.00 price objective on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 1st.

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Zynerba Pharmaceuticals by 53.9% in the first quarter. Vanguard Group Inc. now owns 425,811 shares of the company’s stock worth $8,559,000 after acquiring an additional 149,094 shares in the last quarter. Morgan Stanley grew its position in Zynerba Pharmaceuticals by 220.3% in the first quarter. Morgan Stanley now owns 57,752 shares of the company’s stock worth $1,161,000 after acquiring an additional 39,722 shares in the last quarter. SG Americas Securities LLC bought a new stake in Zynerba Pharmaceuticals in the first quarter worth approximately $188,000. Geode Capital Management LLC grew its position in Zynerba Pharmaceuticals by 57.6% in the first quarter. Geode Capital Management LLC now owns 76,015 shares of the company’s stock worth $1,527,000 after acquiring an additional 27,789 shares in the last quarter. Finally, Bluestein R H & Co. bought a new stake in Zynerba Pharmaceuticals in the first quarter worth approximately $942,000. 34.32% of the stock is owned by institutional investors.

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Shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) traded down 0.80% during trading on Friday, hitting $6.23. 325,800 shares of the company’s stock were exchanged. Zynerba Pharmaceuticals has a 1-year low of $6.10 and a 1-year high of $23.57. The stock’s 50 day moving average is $6.25 and its 200 day moving average is $13.29. The firm’s market capitalization is $82.59 million.

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

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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