A number of other research analysts also recently commented on the stock. Zacks Investment Research raised shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, December 8th. Cantor Fitzgerald set a $17.00 target price on shares of Zynerba Pharmaceuticals and gave the stock a buy rating in a research report on Monday, December 4th. Canaccord Genuity set a $18.00 target price on shares of Zynerba Pharmaceuticals and gave the stock a buy rating in a research report on Monday, December 4th. Piper Jaffray Companies boosted their target price on shares of Zynerba Pharmaceuticals from $16.00 to $20.00 in a research report on Tuesday, November 14th. Finally, Roth Capital set a $15.00 target price on shares of Zynerba Pharmaceuticals and gave the stock a buy rating in a research report on Sunday, October 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $15.00.
Shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) opened at $12.50 on Wednesday. Zynerba Pharmaceuticals has a 52-week low of $5.42 and a 52-week high of $25.95. The company has a market cap of $169.36 and a PE ratio of -4.82.
In other Zynerba Pharmaceuticals news, major shareholder Michael Rapp acquired 15,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was bought at an average price of $12.99 per share, for a total transaction of $194,850.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders have purchased 85,000 shares of company stock valued at $875,161. Corporate insiders own 9.91% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Nationwide Fund Advisors bought a new stake in shares of Zynerba Pharmaceuticals in the 2nd quarter worth about $110,000. Zeke Capital Advisors LLC bought a new stake in shares of Zynerba Pharmaceuticals in the 3rd quarter worth about $114,000. The Manufacturers Life Insurance Company bought a new stake in shares of Zynerba Pharmaceuticals in the 2nd quarter worth about $158,000. Cowen Inc. bought a new stake in shares of Zynerba Pharmaceuticals in the 3rd quarter worth about $167,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Zynerba Pharmaceuticals in the 2nd quarter worth about $207,000. Institutional investors own 26.71% 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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