Zynerba Pharmaceuticals, Inc. (ZYNE) Stock Rating Lowered by Roth Capital
Roth Capital lowered shares of Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) from a buy rating to a neutral rating in a research note published on Tuesday morning, MarketBeat Ratings reports. They currently have $7.00 target price on the stock, down from their previous target price of $30.00.
Several other brokerages also recently weighed in on ZYNE. Oppenheimer Holdings, Inc. set a $8.00 target price on shares of Zynerba Pharmaceuticals and gave the company a buy rating in a research note on Monday, August 7th. BidaskClub raised shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, July 12th. Maxim Group set a $32.00 target price on shares of Zynerba Pharmaceuticals and gave the company a buy rating in a research note on Tuesday, August 1st. Canaccord Genuity set a $35.00 target price on shares of Zynerba Pharmaceuticals and gave the company a buy rating in a research note on Saturday, May 13th. Finally, Jefferies Group LLC reissued a buy rating and issued a $32.00 target price on shares of Zynerba Pharmaceuticals in a research note on Thursday, May 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Zynerba Pharmaceuticals has an average rating of Hold and an average target price of $17.89.
Zynerba Pharmaceuticals (ZYNE) traded down 3.17% during trading on Tuesday, hitting $7.03. 1,282,232 shares of the company’s stock were exchanged. Zynerba Pharmaceuticals has a 52-week low of $5.93 and a 52-week high of $25.95. The firm has a 50 day moving average price of $15.98 and a 200 day moving average price of $19.06. The company’s market cap is $93.20 million.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its earnings results on Tuesday, August 1st. The company reported ($0.64) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by $0.04. On average, equities research analysts predict that Zynerba Pharmaceuticals will post ($2.42) earnings per share for the current year.
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In related news, Chairman Armando Anido purchased 5,000 shares of Zynerba Pharmaceuticals stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average price of $19.70 per share, with a total value of $98,500.00. Following the purchase, the chairman now directly owns 336,012 shares of the company’s stock, valued at approximately $6,619,436.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 10.02% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace North America L.P. bought a new position in Zynerba Pharmaceuticals during the first quarter valued at approximately $9,362,000. JPMorgan Chase & Co. increased its position in Zynerba Pharmaceuticals by 65,190.0% in the second quarter. JPMorgan Chase & Co. now owns 326,450 shares of the company’s stock valued at $5,539,000 after buying an additional 325,950 shares in the last quarter. Citigroup Inc. increased its position in Zynerba Pharmaceuticals by 13,501.1% in the second quarter. Citigroup Inc. now owns 221,698 shares of the company’s stock valued at $3,762,000 after buying an additional 220,068 shares in the last quarter. Vanguard Group Inc. increased its position in Zynerba Pharmaceuticals by 53.9% in the first quarter. Vanguard Group Inc. now owns 425,811 shares of the company’s stock valued at $8,559,000 after buying an additional 149,094 shares in the last quarter. Finally, Pennsylvania Trust Co bought a new position in Zynerba Pharmaceuticals during the second quarter valued at approximately $2,366,000. 31.08% of the stock is currently owned by institutional investors.
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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