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

StockNews.com initiated coverage on shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE – Get Rating) in a report issued on Monday. The firm issued a sell rating on the stock.

Separately, Cantor Fitzgerald reiterated an overweight rating on shares of Zynerba Pharmaceuticals in a report on Friday, March 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Zynerba Pharmaceuticals presently has a consensus rating of Hold and an average price target of $11.00.

Zynerba Pharmaceuticals Stock Performance

Shares of Zynerba Pharmaceuticals stock opened at $0.32 on Monday. The company has a market cap of $17.18 million, a P/E ratio of -0.39 and a beta of 1.73. Zynerba Pharmaceuticals has a one year low of $0.30 and a one year high of $1.60. The firm has a fifty day moving average of $0.39 and a two-hundred day moving average of $0.50.

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

Hedge Funds Weigh In On Zynerba Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new stake in shares of Zynerba Pharmaceuticals during the 3rd quarter worth about $46,000. Two Sigma Investments LP acquired a new stake in shares of Zynerba Pharmaceuticals during the 3rd quarter worth about $90,000. Vanguard Group Inc. boosted its stake in shares of Zynerba Pharmaceuticals by 11.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,178,590 shares of the company’s stock worth $1,595,000 after purchasing an additional 232,000 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Zynerba Pharmaceuticals by 50.7% during the 3rd quarter. Renaissance Technologies LLC now owns 1,110,035 shares of the company’s stock worth $813,000 after purchasing an additional 373,435 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Zynerba Pharmaceuticals during the 2nd quarter worth about $35,000. 23.82% of the stock is currently owned by hedge funds and other institutional investors.

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.