Zynerba Pharmaceuticals Sees Unusually Large Options Volume (NASDAQ:ZYNE)

Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) saw unusually large options trading activity on Monday. Investors bought 14,642 put options on the stock. This represents an increase of approximately 1,148% compared to the average volume of 1,173 put options.

NASDAQ:ZYNE opened at $6.54 on Tuesday. The company has a 50-day moving average of $5.42 and a 200-day moving average of $4.84. The company has a market capitalization of $157.19 million, a price-to-earnings ratio of -4.17 and a beta of 3.12. Zynerba Pharmaceuticals has a 52 week low of $2.55 and a 52 week high of $15.70.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.03). As a group, equities research analysts predict that Zynerba Pharmaceuticals will post -1.75 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Citigroup Inc. increased its position in shares of Zynerba Pharmaceuticals by 93.4% during the 4th quarter. Citigroup Inc. now owns 6,940 shares of the company’s stock worth $42,000 after purchasing an additional 3,352 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Zynerba Pharmaceuticals by 114.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,095 shares of the company’s stock valued at $27,000 after acquiring an additional 3,793 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new stake in Zynerba Pharmaceuticals in the 1st quarter valued at about $54,000. California Public Employees Retirement System acquired a new stake in Zynerba Pharmaceuticals in the 4th quarter valued at about $109,000. Finally, Barclays PLC increased its position in Zynerba Pharmaceuticals by 31.7% in the 4th quarter. Barclays PLC now owns 23,231 shares of the company’s stock valued at $140,000 after acquiring an additional 5,585 shares in the last quarter. Institutional investors and hedge funds own 36.96% of the company’s stock.

Several research analysts have recently commented on the stock. Zacks Investment Research restated a “buy” rating and set a $6.25 price target on shares of Zynerba Pharmaceuticals in a research note on Saturday, May 30th. LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $26.00 price objective on shares of Zynerba Pharmaceuticals in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price objective on shares of Zynerba Pharmaceuticals in a report on Thursday, April 16th. Cantor Fitzgerald upped their price objective on shares of Zynerba Pharmaceuticals from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Finally, ValuEngine raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $15.88.

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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