Zynerba Pharmaceuticals (ZYNE) Rating Lowered to Sell at Zacks Investment Research

Zynerba Pharmaceuticals, Inc.is headquartered in Devon, Pennsylvania. (NASDAQ:ZYNE) by 12.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). JPMorgan Chase & Co. lifted its stake in shares of Zynerba Pharmaceuticals by 65,190.0% in the 2nd quarter. Zeke Capital Advisors LLC bought a new position in shares of Zynerba Pharmaceuticals in the 3rd quarter worth approximately $114,000. JPMorgan Chase & Co. now owns 326,450 shares of the company's stock valued at $5,539,000 after purchasing an additional 325,950 shares in the last quarter. Morgan Stanley raised its stake in Zynerba Pharmaceuticals by 220.3% during the first quarter. Bank of New York Mellon Corp now owns 12,165 shares of the company's stock worth $245,000 after buying an additional 635 shares during the period. Finally, Segantii Capital Management Ltd bought a new stake in shares of Zynerba Pharmaceuticals during the first quarter worth about $291,000. Geode Capital Management LLC now owns 76,015 shares of the company's stock worth $1,527,000 after purchasing an additional 27,789 shares during the period.

Institutional investors have recently made changes to their positions in the stock. ValuEngine upgraded Zynerba Pharmaceuticals from a strong sell rating to a sell rating in a research report on Friday, September 1st. (ZYNE) opened at $13.37 on Tuesday. Zynerba Pharmaceuticals has a 52-week low of $5.42 and a 52-week high of $25.95.

Receive News & Ratings for Zynerba Pharmaceuticals Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynerba Pharmaceuticals Inc and related companies with FREE daily email newsletter. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.05).

During the same quarter in the previous year, the firm posted ($0.67) EPS. research analysts forecast that Zynerba Pharmaceuticals, Inc. will post -2.49 earnings per share for the current fiscal year.

In other news, major shareholder Michael Rapp acquired 25,745 shares of the business's stock in a transaction on Monday, October 23rd. The stock was bought at an average price of $9.94 per share, for a total transaction of $255,905.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Maxim Group downgraded shares of Zynerba Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Monday, August 7th. Oppenheimer restated a hold rating on shares of Zynerba Pharmaceuticals in a research report on Tuesday, November 14th. HC Wainwright set a $7.00 target price on shares of Zynerba Pharmaceuticals and gave the stock a "hold" rating in a research note on Tuesday, August 15th. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have given a buy recommendation to the company. The stock has a consensus rating of "Hold" and an average target price of $15.00.

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The company's update on a clinical trial may have been overshadowed by GW Pharmaceuticals PLC- ADR (NASDAQ: GWPH)'s earnings report, in which the larger cannabinoid therpauetics company reported a $175.9-million loss on sales of $11 million. The Company is engaged in developing and commercializing transdermal synthetic cannabinoid treatments for patients with high unmet needs.

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