Zynerba Pharmaceuticals Gets a Buy Rating from Canaccord Genuity

By Jason Carr

Canaccord Genuity analyst Arlinda Lee maintained a Buy rating on Zynerba Pharmaceuticals (NASDAQ: ZYNE) today and set a price target of $18. The company’s shares opened today at $10.36.

According to TipRanks.com, Lee is a 3-star analyst with an average return of 2.2% and a 44.2% success rate. Lee covers the Healthcare sector, focusing on stocks such as Eloxx Pharmaceuticals Inc, Karyopharm Therapeutics, and Aquinox Pharmaceuticals.

Zynerba Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $20.33, representing a 96.2% upside. In a report issued on July 5, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $20 price target.

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The company has a one-year high of $20 and a one-year low of $5.42. Currently, Zynerba Pharmaceuticals has an average volume of 276.3K.

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Zynerba Pharmaceuticals, Inc. operates as a clinical stage specialty pharmaceutical company. It engages in the development and commercialization of transdermal pharmaceutically-produced cannabinoid treatments for rare and near-rare neurological and psychiatric, or neuropsychiatric, disorders in patients with high unmet medical needs.