Zynerba Pharmaceuticals (ZYNE) Shares Gap Up to $14.82

Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) shares gapped up before the market opened on Wednesday . The stock had previously closed at $14.74, but opened at $14.82. Zynerba Pharmaceuticals shares last traded at $14.54, with a volume of 15156 shares changing hands.

A number of research analysts have weighed in on the stock. BidaskClub raised shares of Zynerba Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 18th. Zacks Investment Research raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Friday, March 22nd. ValuEngine raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $26.00 price target on shares of Zynerba Pharmaceuticals in a research report on Monday, May 6th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Zynerba Pharmaceuticals in a research report on Monday, March 18th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $18.52.

The stock has a market cap of $277.77 million, a price-to-earnings ratio of -5.05 and a beta of 5.62.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.02. Equities analysts forecast that Zynerba Pharmaceuticals Inc will post -2.08 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of ZYNE. BlackRock Inc. lifted its position in shares of Zynerba Pharmaceuticals by 25.2% during the third quarter. BlackRock Inc. now owns 298,355 shares of the company’s stock worth $2,435,000 after purchasing an additional 59,998 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Zynerba Pharmaceuticals by 23.8% during the third 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 in the last quarter. Vanguard Group Inc lifted its position in shares of Zynerba Pharmaceuticals by 23.8% during the third 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 in the last quarter. Virtu Financial LLC acquired a new position in shares of Zynerba Pharmaceuticals during the fourth quarter worth $40,000. Finally, Two Sigma Investments LP acquired a new position in shares of Zynerba Pharmaceuticals during the fourth quarter worth $120,000. 10.92% of the stock is currently owned by institutional investors and hedge funds.

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Zynerba Pharmaceuticals Company Profile (NASDAQ:ZYNE)

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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