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.
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
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.
- Get a free copy of the StockNews.com research report on Zynerba Pharmaceuticals (ZYNE)
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