Zynerba Pharmaceuticals (NASDAQ:ZYNE) posted its quarterly earnings results on Tuesday. The company reported ($0.91) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.68) by ($0.23), Bloomberg Earnings reports.
Shares of NASDAQ ZYNE traded down $0.34 during mid-day trading on Wednesday, hitting $8.66. The company had a trading volume of 9,441 shares, compared to its average volume of 306,761. Zynerba Pharmaceuticals has a 12 month low of $8.44 and a 12 month high of $9.00. The stock has a market cap of $140.50 million, a PE ratio of -3.48 and a beta of 4.87.
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In related news, major shareholder Michael Rapp bought 15,000 shares of Zynerba Pharmaceuticals stock in a transaction that occurred on Wednesday, May 2nd. The stock was acquired at an average price of $10.46 per share, for a total transaction of $156,900.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.67% of the stock is currently owned by company insiders.
ZYNE has been the topic of several analyst reports. Ladenburg Thalmann initiated coverage on shares of Zynerba Pharmaceuticals in a research report on Monday, January 29th. They set a “buy” rating and a $25.50 target price on the stock. ValuEngine downgraded shares of Zynerba Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Monday, April 2nd. Zacks Investment Research raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Thursday, March 15th. HC Wainwright reissued a “buy” rating and set a $23.00 target price on shares of Zynerba Pharmaceuticals in a research report on Thursday, February 1st. Finally, Seaport Global Securities initiated coverage on shares of Zynerba Pharmaceuticals in a research report on Friday, January 26th. They set a “buy” rating and a $16.00 target price on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Zynerba Pharmaceuticals has an average rating of “Buy” and a consensus price target of $17.86.
Zynerba Pharmaceuticals Company Profile
Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. The company focuses on developing and commercializing pharmaceutically-produced transdermal cannabinoid treatments for rare or near-rare neuropsychiatric disorders. Its product candidates include ZYN002, which completed Phase II clinical trial for pediatric and adolescent patients with fragile X syndrome, pediatric and adolescent patients with developmental and epileptic encephalopathies, and adult patients with refractory epileptic focal seizures; and ZYN001 that is in Phase I clinical trial to treat Tourette syndrome.