LADENBURG THALM/SH SH reissued their buy rating on shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) in a report issued on Wednesday, AnalystRatings.com reports. LADENBURG THALM/SH SH currently has a $26.00 target price on the stock.

“We understand the market’s reaction when focusing on a few items: 1) There was a case of status epilepticus (SE); 2) 96% of patients reported an adverse event (AE); 3) 10/48 (21%) reported a serious adverse event (SAE); 4) Zygel doesn’t work fast enough; 5) 7 of 48 (15%) dropped out for efficacy; and 6) There were only 11 Dravet syndrome (DS) and Lennox-Gastaut syndrome (LGS) patients. However, we find some perspective on these figures are important to consider: 1. SE has not been found in any previous Zygel trial, including the Phase 2s in adult refractory epilepsy (n=188), osteoarthritis of the knee (n=300) and Fragile X syndrome (FXS; n=16). As we have described in our notes on Buy), SE typically occurs in patients highly compromised by underlying health conditions and/or trauma.”,” LADENBURG THALM/SH SH’s analyst commented.

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

NASDAQ ZYNE opened at $8.26 on Wednesday. Zynerba Pharmaceuticals has a one year low of $2.75 and a one year high of $16.47. The company’s 50 day moving average price is $10.91 and its 200 day moving average price is $10.70.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.50). Equities research analysts predict that Zynerba Pharmaceuticals will post -2.03 EPS for the current year.

A number of large investors have recently modified their holdings of the business. ETF Managers Group LLC acquired a new stake in shares of Zynerba Pharmaceuticals during the second quarter worth approximately $30,323,000. BlackRock Inc. grew its position in shares of Zynerba Pharmaceuticals by 341.4% during the second quarter. BlackRock Inc. now owns 1,311,995 shares of the company’s stock worth $17,778,000 after buying an additional 1,014,749 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Zynerba Pharmaceuticals by 127.8% during the second quarter. Vanguard Group Inc. now owns 1,232,456 shares of the company’s stock worth $16,700,000 after buying an additional 691,342 shares in the last quarter. Zeke Capital Advisors LLC grew its position in shares of Zynerba Pharmaceuticals by 1,635.1% during the second quarter. Zeke Capital Advisors LLC now owns 411,212 shares of the company’s stock worth $5,572,000 after buying an additional 387,512 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Zynerba Pharmaceuticals during the second quarter worth approximately $1,865,000. 36.68% of the stock is owned by institutional investors.

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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