Zynerba Pharmaceuticals Receives a Hold from Oppenheimer

By Ryan Adsit

In a report released today, Derek Archila from Oppenheimer maintained a Hold rating on Zynerba Pharmaceuticals (NASDAQ: ZYNE). The company’s shares opened today at $10.53.

Archila wrote:

“On 3/12, ZYNE announced 4Q17 financial results and provided a business update. We update our model accordingly. We see a relatively balanced risk/reward for the shares over the next 12-18 months as the company continues to progress its pipeline through the initiation of multiple clinical studies over the course of 2018, with results mostly expected in 2019+. We expect incremental data from ZYN002’s FAB-C study in Fragile X syndrome (FXS) and STAR 1/2 studies in refractory focal epilepsy to be presented at several medical meetings in 2018. However, we do not view these as stock-moving catalysts. While management continues to execute well on clinical development initiatives, we remain on the sidelines due to the lack of meaningful near- term catalysts.”

According to TipRanks.com, Archila is a 3-star analyst with an average return of 5.3% and a 45.5% success rate. Archila covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Pacira Pharmaceuticals, and Perrigo Company plc.

Zynerba Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $20.42.

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 318.5K.

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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.