Zynerba Pharmaceuticals (NASDAQ:ZYNE) Stock Price Passes Below 50-Day Moving Average of $1.93

Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE – Get Rating)’s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $1.93 and traded as low as $1.31. Zynerba Pharmaceuticals shares last traded at $1.40, with a volume of 148,555 shares traded.

ZYNE has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Zynerba Pharmaceuticals in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Zacks Investment Research raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a report on Wednesday, March 9th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Zynerba Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $6.42.

The stock has a 50 day moving average of $1.91 and a 200 day moving average of $2.78.

Zynerba Pharmaceuticals (NASDAQ:ZYNE – Get Rating) last posted its quarterly earnings results on Tuesday, March 1st. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.05. Equities analysts anticipate that Zynerba Pharmaceuticals, Inc. will post -0.95 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Davy Global Fund Management Ltd boosted its holdings in shares of Zynerba Pharmaceuticals by 4.9% during the first quarter. Davy Global Fund Management Ltd now owns 213,469 shares of the company’s stock worth $438,000 after purchasing an additional 9,960 shares during the period. Penserra Capital Management LLC boosted its holdings in shares of Zynerba Pharmaceuticals by 7.7% during the fourth quarter. Penserra Capital Management LLC now owns 410,062 shares of the company’s stock worth $1,180,000 after purchasing an additional 29,364 shares during the period. ETF Managers Group LLC boosted its holdings in shares of Zynerba Pharmaceuticals by 2.7% during the fourth quarter. ETF Managers Group LLC now owns 4,585,741 shares of the company’s stock worth $13,345,000 after purchasing an additional 121,967 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Zynerba Pharmaceuticals by 701.4% during the fourth quarter. GSA Capital Partners LLP now owns 270,772 shares of the company’s stock worth $780,000 after purchasing an additional 236,984 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Zynerba Pharmaceuticals by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 355,509 shares of the company’s stock worth $1,023,000 after purchasing an additional 5,737 shares during the period. Institutional investors own 32.84% of the company’s stock.

Zynerba Pharmaceuticals Company Profile (NASDAQ:ZYNE)

Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. The company focuses on developing pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. It is developing Zygel, a pharmaceutically-produced cannabidiol formulated as a permeation-enhanced gel for transdermal delivery.

Further Reading