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.
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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