Zynerba Pharmaceuticals (ZYNE) Given a $21.00 Price Target at Cantor Fitzgerald
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.
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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