Zynerba Pharmaceuticals (NASDAQ:ZYNE) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE – Get Rating) in a report issued on Wednesday. The brokerage set a “sell” rating on the stock.

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Zynerba Pharmaceuticals in a report on Friday, March 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $11.00.

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Zynerba Pharmaceuticals Stock Down 2.5 %

NASDAQ:ZYNE opened at $0.33 on Wednesday. Zynerba Pharmaceuticals has a 12-month low of $0.30 and a 12-month high of $1.60. The firm has a market capitalization of $17.84 million, a P/E ratio of -0.40 and a beta of 1.73. The stock’s fifty day simple moving average is $0.37 and its 200-day simple moving average is $0.48.

Zynerba Pharmaceuticals (NASDAQ:ZYNE – Get Rating) last released its quarterly earnings results on Monday, May 15th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). As a group, equities research analysts expect that Zynerba Pharmaceuticals will post -0.78 earnings per share for the current year.

Institutional Investors Weigh In On Zynerba Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC acquired a new stake in shares of Zynerba Pharmaceuticals in the third quarter valued at approximately $46,000. Two Sigma Investments LP acquired a new position in shares of Zynerba Pharmaceuticals during the third quarter worth $90,000. Vanguard Group Inc. increased its holdings in shares of Zynerba Pharmaceuticals by 11.9% during the third quarter. Vanguard Group Inc. now owns 2,178,590 shares of the company’s stock worth $1,595,000 after buying an additional 232,000 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Zynerba Pharmaceuticals by 50.7% in the third quarter. Renaissance Technologies LLC now owns 1,110,035 shares of the company’s stock worth $813,000 after purchasing an additional 373,435 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Zynerba Pharmaceuticals in the second quarter worth $35,000. 23.82% of the stock is currently owned by institutional investors and hedge funds.

About Zynerba Pharmaceuticals

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Zynerba Pharmaceuticals, Inc engages in the provision of pharmaceutically-produced transdermal cannabinoid therapies. It focuses on the research and development of rare and near-rare neuropsychiatric conditions. The firm offers the Zygel product, which is formulated as a permeation-enhanced gel for transdermal delivery.

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