Zynerba Pharmaceuticals (NASDAQ:ZYNE) Earns Sell Rating from Analysts at StockNews.com

Posted by on Jun 23rd, 2023

Analysts at StockNews.com began coverage on shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE – Get Rating) in a note issued to investors on Friday. The firm set a “sell” rating on the stock.

Separately, Cantor Fitzgerald reiterated an “overweight” rating on shares of Zynerba Pharmaceuticals in a research report on Friday, March 31st. One 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Zynerba Pharmaceuticals Stock Up 3.3 %

Shares of ZYNE stock opened at $0.34 on Friday. The firm has a market capitalization of $18.29 million, a P/E ratio of -0.41 and a beta of 1.73. Zynerba Pharmaceuticals has a twelve month low of $0.30 and a twelve month high of $1.39. The stock’s fifty day simple moving average is $0.35 and its 200 day simple moving average is $0.47.

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

Institutional Investors Weigh In On Zynerba Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Cetera Advisor Networks LLC bought a new stake in shares of Zynerba Pharmaceuticals in the 2nd quarter valued at about $28,000. UBS Group AG boosted its position in shares of Zynerba Pharmaceuticals by 145.2% during the 1st quarter. UBS Group AG now owns 27,621 shares of the company’s stock valued at $56,000 after purchasing an additional 16,357 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Zynerba Pharmaceuticals during the 2nd quarter valued at about $35,000. Jane Street Group LLC bought a new stake in shares of Zynerba Pharmaceuticals during the 3rd quarter valued at about $46,000. Finally, Vident Investment Advisory LLC boosted its position in shares of Zynerba Pharmaceuticals by 66.1% during the 1st quarter. Vident Investment Advisory LLC now owns 83,977 shares of the company’s stock valued at $172,000 after purchasing an additional 33,418 shares in the last quarter. Institutional investors own 11.94% of the company’s stock.

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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