Cantor Fitzgerald reiterated their overweight rating on shares of Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) in a research report sent to investors on Tuesday. The firm currently has a $28.00 price target on the stock. Cantor Fitzgerald also issued estimates for Zynerba Pharmaceuticals’ FY2017 earnings at ($2.48) EPS and FY2018 earnings at ($2.41) EPS.
A number of other research firms have also recently issued reports on ZYNE. Oppenheimer Holdings, Inc. set a $8.00 price objective on Zynerba Pharmaceuticals and gave the company a buy rating in a research report on Monday. BidaskClub upgraded Zynerba Pharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, July 12th. Maxim Group set a $32.00 price target on Zynerba Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, August 1st. Canaccord Genuity set a $35.00 price target on Zynerba Pharmaceuticals and gave the company a buy rating in a research report on Saturday, May 13th. Finally, Jefferies Group LLC reiterated a buy rating and issued a $32.00 price target on shares of Zynerba Pharmaceuticals in a research report on Thursday, May 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Zynerba Pharmaceuticals currently has an average rating of Hold and an average price target of $17.89.
Zynerba Pharmaceuticals (ZYNE) opened at 7.2592 on Tuesday. Zynerba Pharmaceuticals has a 12-month low of $5.93 and a 12-month high of $25.95. The firm has a 50-day moving average of $16.29 and a 200-day moving average of $19.14. The stock’s market capitalization is $96.24 million.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its quarterly earnings data on Tuesday, August 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by $0.04. Equities research analysts forecast that Zynerba Pharmaceuticals will post ($2.42) earnings per share for the current fiscal year.
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In related news, Chairman Armando Anido purchased 5,000 shares of the stock in a transaction on Monday, May 15th. The shares were purchased at an average cost of $19.70 per share, for a total transaction of $98,500.00. Following the completion of the transaction, the chairman now directly owns 336,012 shares of the company’s stock, valued at approximately $6,619,436.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 10.02% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Rothschild Investment Corp IL boosted its stake in shares of Zynerba Pharmaceuticals by 95.0% in the first quarter. Rothschild Investment Corp IL now owns 45,620 shares of the company’s stock worth $917,000 after buying an additional 22,225 shares during the period. Bank of New York Mellon Corp raised its position in Zynerba Pharmaceuticals by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 12,165 shares of the company’s stock worth $245,000 after buying an additional 635 shares in the last quarter. Cheyne Capital Management UK LLP raised its position in Zynerba Pharmaceuticals by 23.5% in the first quarter. Cheyne Capital Management UK LLP now owns 61,762 shares of the company’s stock worth $1,241,000 after buying an additional 11,762 shares in the last quarter. SG Americas Securities LLC acquired a new position in Zynerba Pharmaceuticals during the first quarter worth approximately $188,000. Finally, Granite Point Capital Management L.P. acquired a new position in Zynerba Pharmaceuticals during the first quarter worth approximately $1,990,000. Hedge funds and other institutional investors own 31.08% of the company’s stock.
About Zynerba Pharmaceuticals
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.
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