Zynerba Pharmaceuticals Gets a Buy Rating from Jefferies

By Austin Angelo

Jefferies analyst Eun Yang reiterated a Buy rating on Zynerba Pharmaceuticals (NASDAQ: ZYNE) yesterday and set a price target of $32. The company’s shares closed yesterday at $18.11.

According to TipRanks.com, Yang is a 4-star analyst with an average return of 2.9% and a 48.7% success rate. Yang covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Achillion Pharmaceuticals, and Ionis Pharmaceuticals Inc.

Currently, the analyst consensus on Zynerba Pharmaceuticals is Strong Buy and the average price target is $30.86, representing a 70.4% upside.

In a report issued on May 9, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $28 price target.

Based on Zynerba Pharmaceuticals’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $0 and GAAP net loss of $7.26 million. In comparison, last year the company earned revenue of $7,250 and had a GAAP net loss of $4.28 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.