Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE)’s stock price traded down 5.3% during trading on Friday . The stock traded as low as $5.63 and last traded at $5.70, 808,200 shares were traded during mid-day trading. An increase of 14% from the average session volume of 707,910 shares. The stock had previously closed at $6.02.

Several equities research analysts have recently commented on the company. Zacks Investment Research lowered Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 9th. Needham & Company LLC assumed coverage on Zynerba Pharmaceuticals in a research note on Monday, October 21st. They issued a “buy” rating and a $18.00 price objective for the company. Roth Capital assumed coverage on Zynerba Pharmaceuticals in a research note on Tuesday, December 31st. They issued a “buy” rating and a $12.00 price objective for the company. Finally, ValuEngine upgraded Zynerba Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $16.29.

The stock has a market capitalization of $139.65 million, a PE ratio of -2.18 and a beta of 4.56. The firm has a 50 day moving average price of $5.86 and a 200 day moving average price of $8.76.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.08. Analysts anticipate that Zynerba Pharmaceuticals Inc will post -1.52 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of ZYNE. Prestige Wealth Management Group LLC purchased a new stake in Zynerba Pharmaceuticals in the 2nd quarter worth $54,000. Wells Fargo & Company MN increased its stake in Zynerba Pharmaceuticals by 110.1% in the 2nd quarter. Wells Fargo & Company MN now owns 4,205 shares of the company’s stock worth $57,000 after buying an additional 2,204 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in Zynerba Pharmaceuticals in the 2nd quarter worth $72,000. Sterling Investment Advisors Ltd. increased its stake in Zynerba Pharmaceuticals by 83.3% in the 3rd quarter. Sterling Investment Advisors Ltd. now owns 11,000 shares of the company’s stock worth $83,000 after buying an additional 5,000 shares in the last quarter. Finally, IHT Wealth Management LLC purchased a new stake in Zynerba Pharmaceuticals in the 3rd quarter worth $87,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

About Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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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