Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) saw a significant growth in short interest in June. As of June 30th, there was short interest totalling 3,940,400 shares, a growth of 14.7% from the May 30th total of 3,434,700 shares. Approximately 26.8% of the shares of the stock are short sold. Based on an average trading volume of 2,440,000 shares, the short-interest ratio is presently 1.6 days.
NASDAQ ZYNE opened at $13.64 on Friday. The company’s 50-day simple moving average is $13.16. Zynerba Pharmaceuticals has a 12-month low of $2.75 and a 12-month high of $16.47.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.02. As a group, equities research analysts anticipate that Zynerba Pharmaceuticals will post -2.04 EPS for the current year.
ZYNE has been the subject of several analyst reports. Zacks Investment Research lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, June 8th. LADENBURG THALM/SH SH restated a “buy” rating and set a $26.00 price target on shares of Zynerba Pharmaceuticals in a research report on Thursday, May 30th. Canaccord Genuity set a $18.00 price target on shares of Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, June 28th. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Cantor Fitzgerald set a $32.00 price target on shares of Bausch Health Companies and gave the company a “buy” rating in a research report on Friday, May 31st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $22.00.
Several large investors have recently modified their holdings of ZYNE. BlackRock Inc. grew its stake in shares of Zynerba Pharmaceuticals by 0.9% during the fourth quarter. BlackRock Inc. now owns 300,949 shares of the company’s stock worth $893,000 after purchasing an additional 2,594 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Zynerba Pharmaceuticals during the fourth quarter worth $120,000. Campbell Capital Management Inc. acquired a new stake in shares of Zynerba Pharmaceuticals during the fourth quarter worth $510,000. Deutsche Bank AG grew its stake in shares of Zynerba Pharmaceuticals by 17,314.3% during the fourth quarter. Deutsche Bank AG now owns 279,500 shares of the company’s stock worth $830,000 after purchasing an additional 277,895 shares during the period. Finally, Virtu Financial LLC grew its stake in shares of Zynerba Pharmaceuticals by 66.9% during the first quarter. Virtu Financial LLC now owns 22,384 shares of the company’s stock worth $121,000 after purchasing an additional 8,970 shares during the period. 10.94% of the stock is owned by hedge funds and other institutional investors.
About Zynerba Pharmaceuticals
Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. It focuses on developing pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. The company is developing Zygel, a transdermal cannabidiol gel, which is in Phase II clinical trial for treating children and adolescent patients with developmental and epileptic encephalopathies; is in Phase II/III clinical trial to treat children and adolescent patients with fragile X syndrome; and is in Phase II clinical trial for treating children and adolescent patients with autism spectrum disorder.
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