Cantor Fitzgerald set a $20.00 target price on Zynerba Pharmaceuticals (NASDAQ:ZYNE) in a research report report published on Wednesday morning. The brokerage currently has a buy rating on the stock.

Several other research firms also recently weighed in on ZYNE. HC Wainwright set a $23.00 price objective on Zynerba Pharmaceuticals and gave the company a buy rating in a report on Monday, April 16th. Oppenheimer reissued a hold rating on shares of Zynerba Pharmaceuticals in a report on Tuesday, March 13th. Seaport Global Securities reissued a buy rating on shares of Zynerba Pharmaceuticals in a report on Tuesday, March 13th. ValuEngine downgraded Zynerba Pharmaceuticals from a sell rating to a strong sell rating in a report on Monday, April 2nd. Finally, Zacks Investment Research raised Zynerba Pharmaceuticals from a hold rating to a buy rating and set a $12.00 price objective on the stock in a report on Thursday, March 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Zynerba Pharmaceuticals presently has a consensus rating of Buy and a consensus price target of $17.86.

Shares of ZYNE stock opened at $10.38 on Wednesday. The firm has a market capitalization of $143.62, a price-to-earnings ratio of -4.19 and a beta of 4.94. Zynerba Pharmaceuticals has a fifty-two week low of $5.42 and a fifty-two week high of $22.53.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its earnings results on Monday, March 12th. The company reported ($0.60) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.60). During the same period last year, the company posted ($0.71) earnings per share. equities research analysts expect that Zynerba Pharmaceuticals will post -2.63 earnings per share for the current year.

In other news, major shareholder Michael Rapp acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 22nd. The shares were bought at an average price of $9.28 per share, with a total value of $92,800.00. The acquisition 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.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Zynerba Pharmaceuticals by 1.1% in the 4th quarter. BlackRock Inc. now owns 678,697 shares of the company’s stock worth $8,497,000 after acquiring an additional 7,091 shares in the last quarter. State Street Corp bought a new position in shares of Zynerba Pharmaceuticals in the 2nd quarter worth about $2,698,000. Wells Fargo & Company MN raised its position in shares of Zynerba Pharmaceuticals by 3,759.5% in the 3rd quarter. Wells Fargo & Company MN now owns 34,079 shares of the company’s stock worth $285,000 after acquiring an additional 33,196 shares in the last quarter. Alliancebernstein L.P. bought a new position in shares of Zynerba Pharmaceuticals in the 4th quarter worth about $264,000. Finally, California State Teachers Retirement System bought a new position in shares of Zynerba Pharmaceuticals in the 2nd quarter worth about $343,000. 28.92% of the stock is owned by institutional investors and hedge funds.

Zynerba Pharmaceuticals Company Profile

Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. The company focuses on developing and commercializing pharmaceutically-produced transdermal cannabinoid treatments for rare or near-rare neuropsychiatric disorders. Its product candidates include ZYN002, which completed Phase II clinical trial for pediatric and adolescent patients with fragile X syndrome, pediatric and adolescent patients with developmental and epileptic encephalopathies, and adult patients with refractory epileptic focal seizures; and ZYN001 that is in Phase I clinical trial to treat Tourette syndrome.

Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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