Zynerba Pharmaceuticals Gets a Buy Rating from Cantor Fitzgerald

By Ryan Adsit

Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Zynerba Pharmaceuticals (NASDAQ: ZYNE) yesterday and set a price target of $20. The company’s shares closed yesterday at $10.53.

According to TipRanks.com, Piros is ranked 0 out of 5 stars with an average return of -6.2% and a 46.9% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Dimension Therapeutics Inc.

Currently, the analyst consensus on Zynerba Pharmaceuticals is Strong Buy and the average price target is $20.42, representing a 93.9% upside.

In a report issued on March 6, H.C. Wainwright also reiterated a Buy rating on the stock with a $23 price target.

The company has a one-year high of $25.95 and a one-year low of $5.42. Currently, Zynerba Pharmaceuticals has an average volume of 318K.

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Zynerba Pharmaceuticals, Inc. engages in the research and development of drugs. Its clinical programs include synthetic cannabinoid therapeutics and patch and gel for transdermal delivery. The company was founded by Audra L. Stinchcomb on January 31, 2007 and is headquartered in Devon, PA.