Zynerba Pharmaceuticals (ZYNE) Releases Quarterly Earnings Results, Beats Estimates By $0.23 EPS

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Zynerba Pharmaceuticals (NASDAQ:ZYNE) announced its quarterly earnings results on Thursday. The company reported ($0.47) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.70) by $0.23, MarketWatch Earnings reports.

NASDAQ:ZYNE traded down $0.44 during trading hours on Friday, hitting $5.95. 339,986 shares of the stock were exchanged, compared to its average volume of 402,426. Zynerba Pharmaceuticals has a 52-week low of $5.03 and a 52-week high of $15.14. The firm has a market cap of $102.22 million, a P/E ratio of -2.40 and a beta of 4.49.

Several equities analysts recently weighed in on the company. HC Wainwright set a $23.00 price target on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, July 13th. Canaccord Genuity set a $18.00 price target on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, July 13th. Zacks Investment Research lowered Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. Cantor Fitzgerald assumed coverage on Zynerba Pharmaceuticals in a research note on Friday, September 21st. They issued an “overweight” rating and a $21.00 price target for the company. Finally, ValuEngine lowered Zynerba Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, July 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $18.93.

In other news, Director John P. Butler acquired 5,000 shares of the business’s stock in a transaction on Wednesday, August 22nd. The stock was bought at an average cost of $6.43 per share, for a total transaction of $32,150.00. Following the purchase, the director now owns 5,000 shares in the company, valued at $32,150. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.67% of the stock is currently owned by insiders.

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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.

See Also: Cost of Capital

Earnings History for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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