Zynerba Pharmaceuticals (NASDAQ:ZYNE) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a report issued on Tuesday.
Several other research analysts have also weighed in on the company. Cantor Fitzgerald set a $21.00 price target on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, December 17th. HC Wainwright set a $23.00 price target on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, November 13th. Finally, Zacks Investment Research raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research report on Saturday, January 19th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $15.88.
Get Zynerba Pharmaceuticals alerts:Shares of NASDAQ:ZYNE traded down $0.10 during trading on Tuesday, hitting $4.97. 505,900 shares of the company were exchanged, compared to its average volume of 1,093,233. The firm has a market capitalization of $89.38 million, a price-to-earnings ratio of -2.00 and a beta of 4.98. Zynerba Pharmaceuticals has a fifty-two week low of $2.75 and a fifty-two week high of $12.50.
Hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in shares of Zynerba Pharmaceuticals during the 4th quarter worth approximately $40,000. Two Sigma Investments LP acquired a new position in shares of Zynerba Pharmaceuticals during the 4th quarter worth approximately $120,000. Thompson Siegel & Walmsley LLC acquired a new position in shares of Zynerba Pharmaceuticals during the 3rd quarter worth approximately $157,000. GSA Capital Partners LLP acquired a new position in shares of Zynerba Pharmaceuticals during the 3rd quarter worth approximately $177,000. Finally, Zeke Capital Advisors LLC acquired a new position in shares of Zynerba Pharmaceuticals during the 3rd quarter worth approximately $193,000. 16.40% of the stock is currently owned by institutional investors and hedge funds.
About Zynerba Pharmaceuticals
Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. The company focuses on developing and commercializing pharmaceutically-produced transdermal cannabinoid treatments for rare or near-rare neuropsychiatric disorders. Its product candidates include ZYN002, which completed Phase II clinical trial for pediatric and adolescent patients with fragile X syndrome, pediatric and adolescent patients with developmental and epileptic encephalopathies, and adult patients with refractory epileptic focal seizures; and ZYN001 that is in Phase I clinical trial to treat Tourette syndrome.
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