Zynerba Pharmaceuticals (ZYNE) Announces Earnings Results

Zynerba Pharmaceuticals (NASDAQ:ZYNE) issued its quarterly earnings results on Monday, March 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.60), Briefing.com reports. During the same period in the previous year, the company posted ($0.71) EPS.

Shares of ZYNE traded down $0.06 during midday trading on Thursday, hitting $9.13. 138,859 shares of the stock were exchanged, compared to its average volume of 329,969. Zynerba Pharmaceuticals has a 52-week low of $5.42 and a 52-week high of $25.95. The firm has a market cap of $123.54, a P/E ratio of -3.68 and a beta of 4.94.

A number of equities analysts have commented on ZYNE shares. Zacks Investment Research raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, December 8th. Cantor Fitzgerald set a $17.00 target price on Zynerba Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, January 3rd. Ladenburg Thalmann Financial Services initiated coverage on Zynerba Pharmaceuticals in a report on Monday, January 29th. They issued a “buy” rating and a $25.50 price target for the company. Oppenheimer reaffirmed a “hold” rating on shares of Zynerba Pharmaceuticals in a report on Wednesday, January 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $23.00 price target on shares of Zynerba Pharmaceuticals in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $17.86.

In other news, major shareholder Michael Rapp purchased 10,000 shares of the stock in a transaction dated Thursday, March 22nd. The stock was acquired at an average cost of $9.28 per share, for a total transaction of $92,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.91% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company purchased a new position in Zynerba Pharmaceuticals in the second quarter valued at $158,000. California State Teachers Retirement System purchased a new position in Zynerba Pharmaceuticals in the second quarter valued at $343,000. Finally, State Street Corp purchased a new position in Zynerba Pharmaceuticals in the second quarter valued at $2,698,000. Hedge funds and other institutional investors own 28.92% of the company’s stock.

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Zynerba Pharmaceuticals Company Profile

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.

Earnings History for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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