Zynerba Pharmaceuticals (NASDAQ:ZYNE) Upgraded to “Strong-Buy” by BidaskClub

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Zynerba Pharmaceuticals (NASDAQ:ZYNE) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Saturday, May 18th, BidAskClub reports.

A number of other research analysts have also weighed in on the stock. ValuEngine raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Zacks Investment Research downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. LADENBURG THALM/SH SH reiterated a “buy” rating and set a $26.00 target price on shares of Zynerba Pharmaceuticals in a research report on Monday, May 6th. Roth Capital started coverage on Zynerba Pharmaceuticals in a research report on Tuesday, April 30th. They set a “buy” rating and a $36.00 target price for the company. Finally, Canaccord Genuity started coverage on Zynerba Pharmaceuticals in a report on Monday, April 22nd. They issued a “buy” rating and a $8.09 price objective for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Zynerba Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $20.35.

ZYNE stock traded up $1.92 during trading on Friday, hitting $13.50. 6,764,354 shares of the stock traded hands, compared to its average volume of 1,966,005. Zynerba Pharmaceuticals has a 1 year low of $2.75 and a 1 year high of $16.47. The company has a market capitalization of $257.18 million, a price-to-earnings ratio of -5.17 and a beta of 5.08.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its earnings results on Wednesday, May 8th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.02. As a group, analysts anticipate that Zynerba Pharmaceuticals will post -2.04 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc grew its holdings in shares of Zynerba Pharmaceuticals by 23.8% during the 3rd quarter. Vanguard Group Inc now owns 651,400 shares of the company’s stock worth $5,316,000 after purchasing an additional 125,327 shares during the period. BlackRock Inc. raised its position in shares of Zynerba Pharmaceuticals by 0.9% during the 4th quarter. BlackRock Inc. now owns 300,949 shares of the company’s stock worth $893,000 after acquiring an additional 2,594 shares in the last quarter. Campbell Capital Management Inc. acquired a new stake in shares of Zynerba Pharmaceuticals during the 4th quarter worth about $510,000. Virtu Financial LLC acquired a new stake in shares of Zynerba Pharmaceuticals during the 4th quarter worth about $40,000. Finally, Vanguard Group Inc. raised its position in shares of Zynerba Pharmaceuticals by 23.8% during the 3rd quarter. Vanguard Group Inc. now owns 651,400 shares of the company’s stock worth $5,316,000 after acquiring an additional 125,327 shares in the last quarter. Hedge funds and other institutional investors own 10.95% 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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