Zynerba Pharmaceuticals (ZYNE) Trading Down 5.1%

Shares of Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) fell 5.1% during mid-day trading on Thursday . The company traded as low as $7.42 and last traded at $7.84. 747,700 shares were traded during mid-day trading, an increase of 82% from the average session volume of 410,845 shares. The stock had previously closed at $8.26.

A number of research firms recently issued reports on ZYNE. Zacks Investment Research downgraded Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, September 22nd. HC Wainwright reiterated a “buy” rating and set a $23.00 price target on shares of Zynerba Pharmaceuticals in a report on Thursday, July 5th. Canaccord Genuity set a $18.00 price target on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, July 13th. ValuEngine upgraded Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, Cantor Fitzgerald set a $20.00 price target on Zynerba Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, July 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $18.44.

The firm has a market capitalization of $146.81 million, a P/E ratio of -3.29 and a beta of 4.53.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last posted its quarterly earnings results on Thursday, August 2nd. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.12). research analysts anticipate that Zynerba Pharmaceuticals Inc will post -3.1 earnings per share for the current year.

In other news, CFO James E. Fickenscher acquired 8,518 shares of Zynerba Pharmaceuticals stock in a transaction dated Monday, August 6th. The stock was bought at an average price of $5.97 per share, for a total transaction of $50,852.46. Following the completion of the acquisition, the chief financial officer now directly owns 20,718 shares in the company, valued at approximately $123,686.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John P. Butler acquired 5,000 shares of Zynerba Pharmaceuticals stock in a transaction dated Wednesday, August 22nd. The shares were purchased at an average price of $6.43 per share, with a total value of $32,150.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $32,150. The disclosure for this purchase can be found here. Insiders have purchased 32,318 shares of company stock valued at $194,404 in the last quarter. 12.67% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of ZYNE. Wells Fargo & Company MN boosted its holdings in shares of Zynerba Pharmaceuticals by 19.6% during the first quarter. Wells Fargo & Company MN now owns 41,414 shares of the company’s stock worth $360,000 after acquiring an additional 6,782 shares during the period. Northern Trust Corp boosted its holdings in shares of Zynerba Pharmaceuticals by 17.3% during the first quarter. Northern Trust Corp now owns 167,342 shares of the company’s stock worth $1,455,000 after acquiring an additional 24,663 shares during the period. BlackRock Inc. boosted its holdings in shares of Zynerba Pharmaceuticals by 5.4% during the first quarter. BlackRock Inc. now owns 715,185 shares of the company’s stock worth $6,216,000 after acquiring an additional 36,488 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Zynerba Pharmaceuticals by 385.6% during the first quarter. JPMorgan Chase & Co. now owns 12,217 shares of the company’s stock worth $106,000 after acquiring an additional 9,701 shares during the period. Finally, A.R.T. Advisors LLC boosted its holdings in shares of Zynerba Pharmaceuticals by 33.7% during the first quarter. A.R.T. Advisors LLC now owns 86,877 shares of the company’s stock worth $754,000 after acquiring an additional 21,879 shares during the period. Institutional investors own 14.22% of the company’s stock.

Zynerba Pharmaceuticals Company Profile (NASDAQ:ZYNE)

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.

Further Reading: Book Value Per Share – BVPS

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