Jefferies Financial Group reiterated their hold rating on shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) in a report issued on Monday morning, BenzingaRatingsTable reports. The brokerage currently has a $11.00 price objective on the stock. Jefferies Financial Group also issued estimates for Zynerba Pharmaceuticals’ Q3 2019 earnings at ($0.54) EPS, Q4 2019 earnings at ($0.55) EPS, FY2019 earnings at ($2.07) EPS, Q1 2020 earnings at ($0.59) EPS, Q2 2020 earnings at ($0.59) EPS, Q3 2020 earnings at ($0.67) EPS, Q4 2020 earnings at ($0.76) EPS, FY2020 earnings at ($2.63) EPS and FY2021 earnings at ($2.66) EPS.

Several other research firms have also issued reports on ZYNE. Cantor Fitzgerald increased their target price on Zynerba Pharmaceuticals from $12.00 to $22.00 and gave the stock an overweight rating in a research note on Friday, May 31st. Canaccord Genuity set a $18.00 target price on Zynerba Pharmaceuticals and gave the stock a buy rating in a research note on Friday, June 28th. ValuEngine lowered Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, July 17th. BidaskClub lowered Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Thursday, July 11th. Finally, Zacks Investment Research lowered Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Saturday, June 8th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Zynerba Pharmaceuticals presently has a consensus rating of Buy and a consensus price target of $20.43.

ZYNE opened at $8.84 on Monday. The stock’s 50-day moving average price is $11.01 and its 200 day moving average price is $10.67. Zynerba Pharmaceuticals has a 12-month low of $2.75 and a 12-month high of $16.47. The firm has a market cap of $282.78 million, a price-to-earnings ratio of -3.39 and a beta of 4.79.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.50). On average, research analysts anticipate that Zynerba Pharmaceuticals will post -2.02 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of ZYNE. Bernardo Wealth Planning LLC increased its holdings in Zynerba Pharmaceuticals by 5.3% during the 1st quarter. Bernardo Wealth Planning LLC now owns 25,419 shares of the company’s stock worth $138,000 after purchasing an additional 1,278 shares during the period. NEXT Financial Group Inc increased its holdings in Zynerba Pharmaceuticals by 1,190.0% during the 2nd quarter. NEXT Financial Group Inc now owns 1,935 shares of the company’s stock worth $26,000 after purchasing an additional 1,785 shares during the period. Commonwealth Equity Services LLC purchased a new stake in Zynerba Pharmaceuticals during the 2nd quarter worth about $182,000. Zeke Capital Advisors LLC increased its holdings in Zynerba Pharmaceuticals by 1,635.1% during the 2nd quarter. Zeke Capital Advisors LLC now owns 411,212 shares of the company’s stock worth $5,572,000 after purchasing an additional 387,512 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Zynerba Pharmaceuticals during the 2nd quarter worth about $210,000. Institutional investors own 36.68% of the company’s stock.

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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Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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