Raymond James & Associates cut its holdings in Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) by 38.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,466 shares of the company’s stock after selling 7,200 shares during the quarter. Raymond James & Associates owned 0.07% of Zynerba Pharmaceuticals worth $34,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ZYNE. Virtu Financial LLC bought a new position in shares of Zynerba Pharmaceuticals during the 4th quarter valued at $40,000. GSA Capital Partners LLP bought a new position in shares of Zynerba Pharmaceuticals during the 3rd quarter valued at $177,000. Jane Street Group LLC lifted its holdings in shares of Zynerba Pharmaceuticals by 44.6% during the 3rd quarter. Jane Street Group LLC now owns 35,555 shares of the company’s stock valued at $290,000 after buying an additional 10,967 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Zynerba Pharmaceuticals during the 3rd quarter valued at $612,000. Finally, BlackRock Inc. lifted its holdings in shares of Zynerba Pharmaceuticals by 25.2% during the 3rd quarter. BlackRock Inc. now owns 298,355 shares of the company’s stock valued at $2,435,000 after buying an additional 59,998 shares during the period. 12.86% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on ZYNE shares. Zacks Investment Research raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Friday, March 22nd. Cantor Fitzgerald reissued a “buy” rating and set a $11.00 price target on shares of Zynerba Pharmaceuticals in a report on Thursday, March 7th. ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Finally, HC Wainwright reissued a “buy” rating on shares of Zynerba Pharmaceuticals in a report on Monday, March 18th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $14.00.

NASDAQ ZYNE opened at $8.09 on Friday. The firm has a market cap of $170.46 million, a PE ratio of -3.10 and a beta of 4.93. Zynerba Pharmaceuticals Inc has a 1-year low of $2.75 and a 1-year high of $12.50.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its earnings results on Monday, March 11th. The company reported ($0.44) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.65) by $0.21. The company had revenue of $0.09 million during the quarter. On average, sell-side analysts predict that Zynerba Pharmaceuticals Inc will post -2.1 earnings per share for the current fiscal year.

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Zynerba Pharmaceuticals Company Profile

Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. It focuses on developing pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. The company is developing Zygel, a transdermal cannabidiol gel, which is in Phase II clinical trial for treating children and adolescent patients with developmental and epileptic encephalopathies; is in Phase II/III clinical trial to treat children and adolescent patients with fragile X syndrome; and is in Phase II clinical trial for treating children and adolescent patients with autism spectrum disorder.

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Institutional Ownership by Quarter for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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