Shares of Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) have earned an average rating of “Hold” from the fourteen brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $17.56.

ZYNE has been the topic of several research reports. Seaport Global Securities reaffirmed a “buy” rating on shares of Zynerba Pharmaceuticals in a research report on Tuesday, March 13th. HC Wainwright set a $23.00 target price on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, March 13th. Cantor Fitzgerald set a $20.00 target price on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, March 12th. Ladenburg Thalmann began coverage on Zynerba Pharmaceuticals in a research report on Monday, January 29th. They set a “buy” rating and a $25.50 price target on the stock. Finally, Zacks Investment Research raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Thursday, March 15th.

In related news, major shareholder Michael Rapp purchased 15,000 shares of Zynerba Pharmaceuticals stock in a transaction that occurred on Wednesday, May 2nd. The shares were acquired at an average price of $10.46 per share, with a total value of $156,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 12.67% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC bought a new stake in Zynerba Pharmaceuticals during the first quarter worth $903,000. A.R.T. Advisors LLC lifted its stake in Zynerba Pharmaceuticals by 33.7% during the first quarter. A.R.T. Advisors LLC now owns 86,877 shares of the company’s stock worth $754,000 after purchasing an additional 21,879 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Zynerba Pharmaceuticals by 385.6% during the first quarter. JPMorgan Chase & Co. now owns 12,217 shares of the company’s stock worth $106,000 after purchasing an additional 9,701 shares during the last quarter. BlackRock Inc. lifted its stake in Zynerba Pharmaceuticals by 5.4% during the first quarter. BlackRock Inc. now owns 715,185 shares of the company’s stock worth $6,216,000 after purchasing an additional 36,488 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Zynerba Pharmaceuticals by 17.3% during the first quarter. Northern Trust Corp now owns 167,342 shares of the company’s stock worth $1,455,000 after purchasing an additional 24,663 shares during the last quarter. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Zynerba Pharmaceuticals stock opened at $10.14 on Thursday. Zynerba Pharmaceuticals has a 12 month low of $5.42 and a 12 month high of $20.73.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its earnings results on Tuesday, May 8th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.23). equities analysts predict that Zynerba Pharmaceuticals will post -2.99 EPS for the current year.

About Zynerba Pharmaceuticals

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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