Analysts Expect Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) to Post -$0.22 EPS

Analysts expect that Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNEGet Rating) will announce ($0.22) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Zynerba Pharmaceuticals’ earnings. Zynerba Pharmaceuticals posted earnings per share of ($0.20) in the same quarter last year, which indicates a negative year-over-year growth rate of 10%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Zynerba Pharmaceuticals will report full-year earnings of ($0.95) per share for the current financial year, with EPS estimates ranging from ($1.01) to ($0.87). For the next financial year, analysts expect that the firm will report earnings of ($0.81) per share, with EPS estimates ranging from ($0.88) to ($0.74). Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Zynerba Pharmaceuticals.

Zynerba Pharmaceuticals (NASDAQ:ZYNEGet Rating) last issued its earnings results on Tuesday, March 1st. The company reported ($0.22) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.05.

Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a research report on Wednesday, March 9th. StockNews.com initiated coverage on Zynerba Pharmaceuticals in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Zynerba Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $6.42.

Several large investors have recently modified their holdings of ZYNE. Morgan Stanley lifted its holdings in shares of Zynerba Pharmaceuticals by 388.3% in the first quarter. Morgan Stanley now owns 68,896 shares of the company’s stock valued at $321,000 after buying an additional 54,787 shares during the period. Wells Fargo & Company MN grew its holdings in Zynerba Pharmaceuticals by 22.1% during the second quarter. Wells Fargo & Company MN now owns 35,328 shares of the company’s stock worth $186,000 after acquiring an additional 6,400 shares during the period. BlackRock Inc. raised its position in Zynerba Pharmaceuticals by 8.6% in the third quarter. BlackRock Inc. now owns 841,153 shares of the company’s stock worth $3,567,000 after acquiring an additional 66,889 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Zynerba Pharmaceuticals by 17.5% in the 3rd quarter. Goldman Sachs Group Inc. now owns 64,468 shares of the company’s stock valued at $273,000 after acquiring an additional 9,586 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Zynerba Pharmaceuticals during the 3rd quarter valued at about $146,000. 32.84% of the stock is owned by institutional investors.

ZYNE stock opened at $1.41 on Monday. The firm has a market cap of $61.51 million, a PE ratio of -1.52 and a beta of 2.11. The business has a 50-day moving average price of $1.91. Zynerba Pharmaceuticals has a fifty-two week low of $1.31 and a fifty-two week high of $6.07.

About Zynerba Pharmaceuticals (Get Rating)

Zynerba Pharmaceuticals, Inc operates as a clinical stage specialty pharmaceutical company. The company focuses on developing pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. It is developing Zygel, a pharmaceutically-produced cannabidiol formulated as a permeation-enhanced gel for transdermal delivery.

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