State Street Corp grew its holdings in shares of Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) by 8.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 383,997 shares of the company’s stock after purchasing an additional 31,345 shares during the period. State Street Corp owned about 1.66% of Zynerba Pharmaceuticals worth $2,903,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the business. Bernardo Wealth Planning LLC grew its position in shares of Zynerba Pharmaceuticals by 3.9% during the 2nd quarter. Bernardo Wealth Planning LLC now owns 26,419 shares of the company’s stock worth $358,000 after purchasing an additional 1,000 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Zynerba Pharmaceuticals by 110.1% during the 2nd quarter. Wells Fargo & Company MN now owns 4,205 shares of the company’s stock worth $57,000 after purchasing an additional 2,204 shares in the last quarter. Royal Bank of Canada grew its position in shares of Zynerba Pharmaceuticals by 8.7% during the 2nd quarter. Royal Bank of Canada now owns 43,976 shares of the company’s stock worth $596,000 after purchasing an additional 3,530 shares in the last quarter. Prestige Wealth Management Group LLC acquired a new position in shares of Zynerba Pharmaceuticals during the 2nd quarter worth approximately $54,000. Finally, Commonwealth Equity Services LLC grew its position in shares of Zynerba Pharmaceuticals by 34.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 18,092 shares of the company’s stock worth $136,000 after purchasing an additional 4,600 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.
Zynerba Pharmaceuticals (NASDAQ:ZYNE) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.44) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.08. As a group, equities analysts predict that Zynerba Pharmaceuticals Inc will post -1.65 earnings per share for the current year.
A number of brokerages have issued reports on ZYNE. lowered shares of Zynerba Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Monday, December 16th. Jefferies Financial Group restated a “hold” rating and set a $11.00 target price on shares of Zynerba Pharmaceuticals in a research report on Monday, September 16th. LADENBURG THALM/SH SH restated a “buy” rating and set a $26.00 target price on shares of Zynerba Pharmaceuticals in a research report on Wednesday, September 18th. Roth Capital began coverage on shares of Zynerba Pharmaceuticals in a research report on Tuesday. They set a “buy” rating and a $12.00 target price on the stock. Finally, Needham & Company LLC began coverage on shares of Zynerba Pharmaceuticals in a research report on Monday, October 21st. They set a “buy” rating and a $18.00 target price on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Zynerba Pharmaceuticals currently has an average rating of “Hold” and an average price target of $16.29.
Zynerba Pharmaceuticals Company Profile
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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