Zynerba Pharmaceuticals, Inc. to Post FY2019 Earnings of ($1.59) Per Share, Oppenheimer Holdings Forecasts (ZYNE)

Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) – Analysts at Oppenheimer Holdings boosted their FY2019 earnings estimates for shares of Zynerba Pharmaceuticals in a report issued on Monday. Oppenheimer Holdings analyst D. Archila now expects that the company will earn ($1.59) per share for the year, up from their previous estimate of ($2.18). Oppenheimer Holdings currently has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for Zynerba Pharmaceuticals’ FY2020 earnings at ($1.92) EPS and FY2021 earnings at ($2.88) EPS.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings data on Tuesday, August 1st. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.60) by $0.04.

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Other equities research analysts have also issued research reports about the company. Jefferies Group LLC reissued a “buy” rating and issued a $32.00 target price on shares of Zynerba Pharmaceuticals in a research report on Thursday, May 25th. Canaccord Genuity set a $35.00 target price on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, May 13th. Roth Capital set a $30.00 target price on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, May 13th. Cantor Fitzgerald reissued a “buy” rating and issued a $28.00 target price on shares of Zynerba Pharmaceuticals in a research report on Tuesday, May 9th. Finally, Maxim Group set a $32.00 target price on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.56.

Shares of Zynerba Pharmaceuticals (ZYNE) traded down 0.47% during midday trading on Thursday, reaching $6.29. 251,009 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $14.55 and its 200 day moving average price is $18.73. Zynerba Pharmaceuticals has a 52-week low of $5.42 and a 52-week high of $25.95. The firm’s market capitalization is $83.39 million.

A number of hedge funds and other institutional investors have recently bought and sold shares of ZYNE. SG Americas Securities LLC acquired a new position in shares of Zynerba Pharmaceuticals during the first quarter valued at approximately $188,000. Bluestein R H & Co. acquired a new position in shares of Zynerba Pharmaceuticals during the first quarter valued at approximately $942,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Zynerba Pharmaceuticals during the first quarter valued at approximately $410,000. MARSHALL WACE ASIA Ltd acquired a new position in shares of Zynerba Pharmaceuticals during the first quarter valued at approximately $1,645,000. Finally, Granite Point Capital Management L.P. acquired a new position in shares of Zynerba Pharmaceuticals during the first quarter valued at approximately $1,990,000. Hedge funds and other institutional investors own 26.74% of the company’s stock.

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.

Earnings History and Estimates for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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