Zynerba Pharmaceuticals (ZYNE) Shares Down 0.1%

Shares of Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) traded down 0.1% on Tuesday . The company traded as low as $12.95 and last traded at $13.39. 178,928 shares traded hands during trading, a decline of 72% from the average session volume of 642,984 shares. The stock had previously closed at $13.37.

A number of analysts recently weighed in on the stock. Oppenheimer cut shares of Zynerba Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday, August 14th. Zacks Investment Research cut shares of Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 price target on shares of Zynerba Pharmaceuticals in a research note on Tuesday, August 8th. Jefferies Group cut shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating and decreased their price target for the stock from $12.00 to $7.00 in a research note on Tuesday, August 15th. Finally, ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Zynerba Pharmaceuticals presently has an average rating of “Hold” and an average target price of $15.00.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its quarterly earnings data on Tuesday, November 14th. The company reported ($0.63) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($0.05). During the same period in the prior year, the firm posted ($0.67) EPS. equities research analysts predict that Zynerba Pharmaceuticals, Inc. will post -2.49 EPS for the current fiscal year.

In related news, major shareholder Michael Rapp purchased 44,255 shares of the business’s stock in a transaction dated Thursday, October 19th. The stock was acquired at an average price of $9.59 per share, for a total transaction of $424,405.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 9.91% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Nationwide Fund Advisors purchased a new position in shares of Zynerba Pharmaceuticals in the 2nd quarter valued at about $110,000. Zeke Capital Advisors LLC purchased a new position in shares of Zynerba Pharmaceuticals in the 3rd quarter valued at about $114,000. The Manufacturers Life Insurance Company purchased a new position in shares of Zynerba Pharmaceuticals in the 2nd quarter valued at about $158,000. Cowen Inc. purchased a new position in shares of Zynerba Pharmaceuticals in the 3rd quarter valued at about $167,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Zynerba Pharmaceuticals in the 2nd quarter valued at about $207,000. Institutional investors and hedge funds 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.

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