Zynerba Pharmaceuticals, Inc. (ZYNE) Rating Reiterated by CIBC

CIBC reiterated their market perform rating on shares of Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) in a research report released on Tuesday.

Several other research firms also recently weighed in on ZYNE. Oppenheimer Holdings, Inc. set a $8.00 price target on Zynerba Pharmaceuticals and gave the stock a buy rating in a research note on Monday, August 7th. BidaskClub upgraded Zynerba Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, July 12th. Maxim Group set a $32.00 price target on Zynerba Pharmaceuticals and gave the stock a buy rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded Zynerba Pharmaceuticals from a sell rating to a hold rating in a research note on Thursday, August 10th. Finally, Canaccord Genuity set a $35.00 price target on Zynerba Pharmaceuticals and gave the stock a buy rating in a research note on Saturday, May 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Zynerba Pharmaceuticals presently has a consensus rating of Hold and a consensus target price of $12.67.

Zynerba Pharmaceuticals (NASDAQ ZYNE) opened at 6.25 on Tuesday. The stock has a 50 day moving average of $14.21 and a 200-day moving average of $18.65. The company’s market capitalization is $82.86 million. Zynerba Pharmaceuticals has a 52-week low of $5.42 and a 52-week high of $25.95.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings results on Tuesday, August 1st. The company reported ($0.64) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by $0.04. On average, equities research analysts anticipate that Zynerba Pharmaceuticals will post ($2.45) earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of ZYNE. Nationwide Fund Advisors purchased a new position in Zynerba Pharmaceuticals during the second quarter worth approximately $110,000. The Manufacturers Life Insurance Company purchased a new position in Zynerba Pharmaceuticals during the second quarter worth approximately $158,000. FNY Managed Accounts LLC purchased a new position in Zynerba Pharmaceuticals during the first quarter worth approximately $180,000. SG Americas Securities LLC purchased a new position in Zynerba Pharmaceuticals during the first quarter worth approximately $188,000. Finally, New York State Common Retirement Fund purchased a new position in Zynerba Pharmaceuticals during the second quarter worth approximately $207,000. Hedge funds and other institutional investors own 26.74% of the company’s stock.

About Zynerba Pharmaceuticals

Zynerba Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company is engaged in developing and commercializing transdermal synthetic cannabinoid treatments for patients with high unmet needs. Its development pipeline includes two product candidates: ZYN002 and ZYN001. ZYN002 is a synthetic cannabidiol (CBD), which is a non-psychoactive cannabinoid, formulated as a patent-protected permeation-enhanced gel for transdermal delivery through the skin and into the circulatory system.

Analyst Recommendations for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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