Shares of Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) have been given a consensus rating of “Buy” by the six research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $10.56.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 19th. UBS Group restated a “positive” rating on shares of Zynerba Pharmaceuticals in a research note on Monday, September 13th. Finally, HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Zynerba Pharmaceuticals in a research note on Thursday, November 18th.
Shares of Zynerba Pharmaceuticals stock traded up $0.12 during mid-day trading on Friday, hitting $3.68. 520,241 shares of the stock were exchanged, compared to its average volume of 2,672,834. Zynerba Pharmaceuticals has a 12 month low of $3.15 and a 12 month high of $9.00. The firm’s 50-day moving average is $4.15. The stock has a market capitalization of $151.68 million, a P/E ratio of -3.38 and a beta of 2.29.
A number of institutional investors have recently added to or reduced their stakes in ZYNE. Vanguard Group Inc. grew its stake in Zynerba Pharmaceuticals by 70.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,875,871 shares of the company’s stock valued at $9,924,000 after buying an additional 773,343 shares in the last quarter. Millennium Management LLC grew its position in shares of Zynerba Pharmaceuticals by 1,635.7% during the 2nd quarter. Millennium Management LLC now owns 388,454 shares of the company’s stock valued at $2,055,000 after purchasing an additional 366,074 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Zynerba Pharmaceuticals during the 3rd quarter valued at $1,514,000. D. E. Shaw & Co. Inc. grew its position in shares of Zynerba Pharmaceuticals by 704.6% during the 1st quarter. D. E. Shaw & Co. Inc. now owns 307,038 shares of the company’s stock valued at $1,428,000 after purchasing an additional 268,880 shares in the last quarter. Finally, Davy Global Fund Management Ltd grew its position in shares of Zynerba Pharmaceuticals by 33.4% during the 2nd quarter. Davy Global Fund Management Ltd now owns 962,632 shares of the company’s stock valued at $5,092,000 after purchasing an additional 241,045 shares in the last quarter. Institutional investors and hedge funds own 35.52% of the company’s stock.
About Zynerba Pharmaceuticals
Zynerba Pharmaceuticals, Inc engages in the provision of pharmaceutically-produced transdermal cannabinoid therapies. It focuses on research and development of rare and near-rare neuropsychiatric conditions. The firm offers Zygel product, which formulated as a permeation-enhanced gel for transdermal delivery.
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