Cantor Fitzgerald analyst Charles Duncan maintained a Buy rating on Zynerba Pharmaceuticals (ZYNE) today and set a price target of $21. The company’s shares closed yesterday at $4.91, close to its 52-week low of $4.50.
“We rate ZYNE Overweight. We focus our valuation on FXS, where we are encouraged by the open-label, long-term data, with meaningful and durable improvements that we see having predictive value for the pbo-controlled pivotal CONNECT-FX trial. On epilepsy indications, we await further data after a disappointment in focal epilepsy, but we note positive competitor results in childhood epilepsy, in addition to literature data, suggesting good outcome in these trials. We anticipate a shift in investor sentiment NTM, driven by increasingly favorable longer-term P2 readouts of FAB-C (FXS) and STAR 2 (arfe) by YE18, and further turnaround with pivotal FXS trial data in 2019.”
According to TipRanks.com, Duncan is a 1-star analyst with an average return of -0.9% and a 43.6% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Zynerba Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $17.
The company has a one-year high of $14.45 and a one-year low of $4.50. Currently, Zynerba Pharmaceuticals has an average volume of 392.7K.
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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.
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