Zynerba Pharmaceuticals Inc. (ZYNE) Sees Strong Trading Volume
Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) saw unusually-strong trading volume on Wednesday . Approximately 655,343 shares were traded during trading, an increase of 284% from the previous session’s volume of 170,791 shares.The stock last traded at $10.26 and had previously closed at $9.45.
ZYNE has been the topic of several recent analyst reports. Oppenheimer Holdings reaffirmed a “buy” rating and set a $29.00 price objective on shares of Zynerba Pharmaceuticals in a report on Tuesday, June 28th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $42.00 price objective on shares of Zynerba Pharmaceuticals in a report on Tuesday, July 26th. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 16th. Canaccord Genuity set a $35.00 price objective on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, August 16th. Finally, Roth Capital set a $25.00 price objective on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Zynerba Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $28.58.
The firm’s market capitalization is $94.38 million. The company’s 50 day moving average price is $9.13 and its 200 day moving average price is $8.56.
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Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its earnings results on Thursday, August 11th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by $0.18. On average, equities analysts anticipate that Zynerba Pharmaceuticals Inc. will post ($2.54) EPS for the current fiscal year.
In other news, insider Suzanne M. Hanlon sold 3,000 shares of Zynerba Pharmaceuticals stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $10.53, for a total value of $31,590.00. Following the transaction, the insider now directly owns 39,893 shares of the company’s stock, valued at approximately $420,073.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.02% of the stock is currently owned by insiders.
Zynerba Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing and commercializing synthetic cannabinoid therapeutics formulated for transdermal delivery. The Company is evaluating approximately two product candidates, ZYN002 and ZYN001, in over five indications, including refractory epilepsy, Fragile X syndrome (FXS), osteoarthritis (OA), fibromyalgia and peripheral neuropathic pain.
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