Canaccord Genuity set a $18.00 price objective on Zynerba Pharmaceuticals (NASDAQ:ZYNE) in a research report report published on Monday. The brokerage currently has a buy rating on the stock.

Several other analysts have also issued reports on ZYNE. Piper Jaffray Companies lowered Zynerba Pharmaceuticals from an overweight rating to a neutral rating and cut their price objective for the stock from $42.00 to $7.00 in a report on Monday, August 7th. Cantor Fitzgerald lowered Zynerba Pharmaceuticals from an overweight rating to a neutral rating and cut their price objective for the stock from $28.00 to $4.00 in a report on Monday, August 7th. Maxim Group lowered Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Monday, August 7th. Oppenheimer set a $8.00 price objective on Zynerba Pharmaceuticals and gave the stock a buy rating in a report on Monday, August 7th. Finally, ValuEngine lowered Zynerba Pharmaceuticals from a sell rating to a strong sell rating in a report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $15.00.

Shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) traded down $1.21 during trading on Monday, hitting $13.37. The stock had a trading volume of 1,219,400 shares, compared to its average volume of 642,984. Zynerba Pharmaceuticals has a 1-year low of $5.42 and a 1-year high of $25.95.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its earnings results on Tuesday, November 14th. The company reported ($0.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.58) by ($0.05). During the same period last year, the business earned ($0.67) earnings per share. research analysts expect that Zynerba Pharmaceuticals will post -2.49 EPS for the current year.

In related news, major shareholder Michael Rapp bought 25,745 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were bought at an average cost of $9.94 per share, for a total transaction of $255,905.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.91% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its holdings 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 valued at $245,000 after buying an additional 635 shares in the last quarter. Nationwide Fund Advisors acquired a new stake in shares of Zynerba Pharmaceuticals in the second quarter valued at about $110,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Zynerba Pharmaceuticals in the second quarter valued at about $158,000. New York State Common Retirement Fund acquired a new stake in shares of Zynerba Pharmaceuticals in the second quarter valued at about $207,000. Finally, Parametric Portfolio Associates LLC acquired a new stake in shares of Zynerba Pharmaceuticals in the second quarter valued at about $223,000. Institutional investors own 26.95% of the company’s stock.

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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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