Cantor Fitzgerald set a $21.00 target price on Zynerba Pharmaceuticals (NASDAQ:ZYNE) in a research note released on Wednesday. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Zynerba Pharmaceuticals from a hold rating to a buy rating and set a $6.00 target price on the stock in a research report on Saturday, November 17th. HC Wainwright set a $23.00 target price on shares of Zynerba Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday, November 13th. Finally, ValuEngine upgraded shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a research report on Tuesday, August 14th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $17.75.

Shares of ZYNE opened at $4.69 on Wednesday. Zynerba Pharmaceuticals has a twelve month low of $4.50 and a twelve month high of $14.45. The stock has a market cap of $86.55 million, a price-to-earnings ratio of -1.92 and a beta of 4.46.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its earnings results on Thursday, November 8th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.23. Equities analysts anticipate that Zynerba Pharmaceuticals will post -2.87 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in ZYNE. Vanguard Group Inc. grew its position in shares of Zynerba Pharmaceuticals by 23.8% in the third quarter. Vanguard Group Inc. now owns 651,400 shares of the company’s stock valued at $5,316,000 after purchasing an additional 125,327 shares during the last quarter. Millennium Management LLC grew its position in shares of Zynerba Pharmaceuticals by 116.0% in the second quarter. Millennium Management LLC now owns 224,511 shares of the company’s stock valued at $2,187,000 after purchasing an additional 120,570 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Zynerba Pharmaceuticals in the third quarter valued at approximately $612,000. BlackRock Inc. grew its position in shares of Zynerba Pharmaceuticals by 25.2% in the third quarter. BlackRock Inc. now owns 298,355 shares of the company’s stock valued at $2,435,000 after purchasing an additional 59,998 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Zynerba Pharmaceuticals in the second quarter valued at approximately $493,000. Institutional investors and hedge funds own 16.50% of the company’s stock.

About Zynerba Pharmaceuticals

Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. The company focuses on developing and commercializing pharmaceutically-produced transdermal cannabinoid treatments for rare or near-rare neuropsychiatric disorders. Its product candidates include ZYN002, which completed Phase II clinical trial for pediatric and adolescent patients with fragile X syndrome, pediatric and adolescent patients with developmental and epileptic encephalopathies, and adult patients with refractory epileptic focal seizures; and ZYN001 that is in Phase I clinical trial to treat Tourette syndrome.

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Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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