Zynerba Pharmaceuticals (ZYNE) Receives a Buy from Ladenburg Thalmann & Co.

By Austin Angelo

In a report released today, Michael Higgins from Ladenburg Thalmann & Co. maintained a Buy rating on Zynerba Pharmaceuticals (ZYNEResearch Report), with a price target of $26. The company’s shares closed last Monday at $8.95.

Higgins noted:

“We understand the market’s reaction when focusing on a few items: 1) There was a case of status epilepticus (SE); 2) 96% of patients reported an adverse event (AE); 3) 10/48 (21%) reported a serious adverse event (SAE); 4) Zygel doesn’t work fast enough; 5) 7 of 48 (15%) dropped out for efficacy; and 6) There were only 11 Dravet syndrome (DS) and Lennox-Gastaut syndrome (LGS) patients. However, we find some perspective on these figures are important to consider: 1. SE has not been found in any previous Zygel trial, including the Phase 2s in adult refractory epilepsy (n=188), osteoarthritis of the knee (n=300) and Fragile X syndrome (FXS; n=16). As we have described in our notes on Buy), SE typically occurs in patients highly compromised by underlying health conditions and/or trauma.”

According to TipRanks.com, Higgins has 0 stars on 0-5 star ranking scale with an average return of -10.1% and a 31.7% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Armata Pharmaceuticals Inc, Rhythm Pharmaceuticals Inc, and Achieve Life Sciences Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Zynerba Pharmaceuticals with a $19.50 average price target.

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Based on Zynerba Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $11.14 million. In comparison, last year the company had a GAAP net loss of $12.01 million.

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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.