Zynerba Pharmaceuticals Inc(NASDAQ:ZYNE) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Mar 27, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Earnings per share were $-0.7. The reported EPS was above estimates by 5.41%. Analysts had estimated an EPS of $-0.74.
In a different note, Maxim Group said it Initiates Coverage On Zynerba Pharmaceuticals Inc, according to a research note issued on Feb 24, 2017. In the research note, the firm Announces the price-target to $32 per share. The shares have been rated ‘Buy’ by the firm.
Zynerba Pharmaceuticals Inc (ZYNE) made into the market gainers list on Fridays trading session with the shares advancing 0.10% or 0.02 points. Due to strong positive momentum, the stock ended at $19.65, which is also near the day’s high of $20.1. The stock began the session at $19.63 and the volume stood at 2,04,479 shares. The 52-week high of the shares is $23.75 and the 52 week low is $6.02. The company has a current market capitalization of $260 M and it has 1,32,14,825 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On Dec 29, 2016, Michael Rapp (10% owner) purchased 10,000 shares at $15.85 per share price.Also, On Dec 8, 2016, James E Fickenscher (CFO) purchased 7,000 shares at $14.09 per share price.On Aug 17, 2016, Suzanne M. Hanlon (Sec, General Counsel & VP HR) purchased 3,000 shares at $17.92 per share price, according to the Form-4 filing with the securities and exchange commission.
Zynerba Pharmaceuticals Inc. is a specialty pharmaceutical company. The Company is focused on developing and commercializing synthetic cannabinoid therapeutics formulated for transdermal delivery. The Company has two product candidates including ZYN002 and ZYN001 which represent cannabinoid therapeutics for several indications including refractory epilepsy Fragile X syndrome (FXS) osteoarthritis (OA) fibromyalgia and peripheral neuropathic pain. ZYN002 is a synthetic cannabidiol (CBD) formulated as a permeation-enhanced gel for transdermal delivery. In preclinical animal studies ZYN002’s permeation enhancer increased delivery of CBD through the layers of the skin and into the circulatory system. ZYN001 is a pro-drug of delta-9-tetrahydrocannabinol (THC) that enables transdermal delivery through a patch. In preclinical animal studies ZYN001 demonstrated effective skin permeation with sustained delivery and rapid conversion of ZYN001 to THC.