Brokerages Expect Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) to Announce -$0.50 Earnings Per Share

Wall Street brokerages forecast that Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) will report ($0.50) earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have made estimates for Zynerba Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.53) and the highest is ($0.48). Zynerba Pharmaceuticals reported earnings of ($0.47) per share in the same quarter last year, which indicates a negative year over year growth rate of 6.4%. The firm is expected to report its next earnings results on Thursday, November 14th.

According to Zacks, analysts expect that Zynerba Pharmaceuticals will report full-year earnings of ($2.02) per share for the current fiscal year, with EPS estimates ranging from ($2.11) to ($1.89). For the next financial year, analysts expect that the company will post earnings of ($2.02) per share, with EPS estimates ranging from ($2.35) to ($1.76). Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Zynerba Pharmaceuticals.

Zynerba Pharmaceuticals (NASDAQ:ZYNE) last announced its earnings results on Tuesday, August 6th. The company reported ($0.50) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.50).

A number of equities research analysts recently weighed in on ZYNE shares. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, June 8th. LADENBURG THALM/SH SH reissued a “buy” rating and set a $26.00 price target on shares of Zynerba Pharmaceuticals in a research note on Thursday, May 30th. Roth Capital started coverage on shares of Zynerba Pharmaceuticals in a research note on Tuesday, April 30th. They set a “buy” rating and a $36.00 price target on the stock. Cantor Fitzgerald lifted their price target on shares of Zynerba Pharmaceuticals from $12.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Finally, Canaccord Genuity set a $18.00 price target on shares of Zynerba Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, June 28th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Zynerba Pharmaceuticals has a consensus rating of “Buy” and an average price target of $22.00.

ZYNE traded up $0.10 on Monday, reaching $11.30. The company had a trading volume of 654,480 shares, compared to its average volume of 1,801,057. The business has a 50 day simple moving average of $12.09 and a 200 day simple moving average of $9.82. The company has a market cap of $259.84 million, a price-to-earnings ratio of -4.33 and a beta of 4.85. Zynerba Pharmaceuticals has a 52-week low of $2.75 and a 52-week high of $16.47.

Several hedge funds have recently bought and sold shares of ZYNE. NEXT Financial Group Inc raised its stake in shares of Zynerba Pharmaceuticals by 1,190.0% during the second quarter. NEXT Financial Group Inc now owns 1,935 shares of the company’s stock worth $26,000 after acquiring an additional 1,785 shares in the last quarter. Prestige Wealth Management Group LLC purchased a new position in shares of Zynerba Pharmaceuticals during the second quarter worth approximately $54,000. Wells Fargo & Company MN raised its stake in shares of Zynerba Pharmaceuticals by 110.1% during the second quarter. Wells Fargo & Company MN now owns 4,205 shares of the company’s stock worth $57,000 after acquiring an additional 2,204 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Zynerba Pharmaceuticals during the second quarter worth approximately $72,000. Finally, Sterling Investment Advisors Ltd. purchased a new position in shares of Zynerba Pharmaceuticals during the second quarter worth approximately $81,000. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

About Zynerba Pharmaceuticals

Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. It focuses on developing pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. The company is developing Zygel, a transdermal cannabidiol gel, which is in Phase II clinical trial for treating children and adolescent patients with developmental and epileptic encephalopathies; is in Phase II/III clinical trial to treat children and adolescent patients with fragile X syndrome; and is in Phase II clinical trial for treating children and adolescent patients with autism spectrum disorder.

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Earnings History and Estimates for Zynerba Pharmaceuticals (NASDAQ:ZYNE)

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