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

Several equities analysts recently commented on the stock. Cantor Fitzgerald reiterated a “hold” rating and set a $4.00 price target on shares of Zynerba Pharmaceuticals in a report on Thursday, September 28th. HC Wainwright set a $7.00 target price on shares of Zynerba Pharmaceuticals and gave the stock a “hold” rating in a research note on Tuesday, August 15th. Jefferies Group downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating and dropped their target price for the stock from $12.00 to $7.00 in a research note on Tuesday, August 15th. Oppenheimer downgraded shares of Zynerba Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday, August 14th. Finally, Maxim Group restated a “hold” rating on shares of Zynerba Pharmaceuticals in a research note on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $15.00.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its quarterly earnings data on Tuesday, November 14th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($0.05). During the same quarter in the previous year, the company posted ($0.67) EPS. sell-side analysts forecast that Zynerba Pharmaceuticals, Inc. will post -2.49 EPS for the current year.

In other news, major shareholder Michael Rapp bought 25,745 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The stock was bought at an average price of $9.94 per share, with a total value of $255,905.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.91% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in shares of Zynerba Pharmaceuticals by 65,190.0% during the second quarter. JPMorgan Chase & Co. now owns 326,450 shares of the company’s stock worth $5,539,000 after purchasing an additional 325,950 shares during the last quarter. Perceptive Advisors LLC lifted its stake in shares of Zynerba Pharmaceuticals by 230.7% in the third quarter. Perceptive Advisors LLC now owns 130,700 shares of the company’s stock worth $1,320,000 after buying an additional 230,700 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Zynerba Pharmaceuticals by 13,501.1% in the second quarter. Citigroup Inc. now owns 221,698 shares of the company’s stock worth $3,762,000 after buying an additional 220,068 shares in the last quarter. RTW Investments LP purchased a new position in shares of Zynerba Pharmaceuticals in the third quarter worth about $1,672,000. Finally, State Street Corp purchased a new position in shares of Zynerba Pharmaceuticals in the second quarter worth about $2,698,000. 26.95% of the stock is owned by institutional investors and hedge funds.

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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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