Needham & Company LLC reiterated their hold rating on shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) in a research report report published on Monday, AnalystRatings.com reports.

A number of other analysts have also recently weighed in on ZYNE. HC Wainwright reissued a buy rating and set a $12.00 price objective on shares of Zynerba Pharmaceuticals in a report on Wednesday, July 1st. Zacks Investment Research reissued a buy rating and set a $6.25 price objective on shares of Zynerba Pharmaceuticals in a report on Saturday, May 30th. LADENBURG THALM/SH SH reaffirmed a buy rating and issued a $26.00 target price on shares of Zynerba Pharmaceuticals in a report on Monday, June 29th. Canaccord Genuity cut their target price on shares of Zynerba Pharmaceuticals from $18.00 to $12.00 and set a buy rating on the stock in a report on Wednesday, July 1st. Finally, Cantor Fitzgerald cut their target price on shares of Zynerba Pharmaceuticals from $24.00 to $8.00 and set an overweight rating on the stock in a report on Wednesday, July 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Zynerba Pharmaceuticals presently has an average rating of Buy and an average price target of $13.18.

ZYNE stock opened at $3.80 on Monday. Zynerba Pharmaceuticals has a twelve month low of $2.55 and a twelve month high of $10.24. The company’s 50 day moving average is $3.80 and its two-hundred day moving average is $4.17. The stock has a market cap of $111.17 million, a P/E ratio of -2.05 and a beta of 2.97.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.33). On average, equities analysts predict that Zynerba Pharmaceuticals will post -2.13 EPS for the current year.

Large investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA boosted its position in shares of Zynerba Pharmaceuticals by 114.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,095 shares of the company’s stock worth $27,000 after purchasing an additional 3,793 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Zynerba Pharmaceuticals during the 2nd quarter worth $34,000. Davy Global Fund Management Ltd purchased a new stake in shares of Zynerba Pharmaceuticals during the 2nd quarter worth $41,000. Bank of America Corp DE boosted its position in shares of Zynerba Pharmaceuticals by 48.8% during the 2nd quarter. Bank of America Corp DE now owns 13,639 shares of the company’s stock worth $46,000 after purchasing an additional 4,476 shares in the last quarter. Finally, Parametric Portfolio Associates LLC purchased a new stake in shares of Zynerba Pharmaceuticals during the 1st quarter worth $54,000. Hedge funds and other institutional investors own 25.99% of the company’s stock.

About Zynerba Pharmaceuticals

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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