Cantor Fitzgerald analyst Charles Duncan maintained a Buy rating on Zynerba Pharmaceuticals (ZYNE) today and set a price target of $11. The company’s shares opened today at $4.74.
Duncan commented:
“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. Section may be found on pages 4 – 5.We use a discounted NPV revenue calculation that yields ~$8 for ZYN002 in the U.S. FXS market and ~$3 in the EU.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 0.8% and a 45.9% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Currently, the analyst consensus on Zynerba Pharmaceuticals is a Moderate Buy with an average price target of $18.50.
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The company has a one-year high of $12.50 and a one-year low of $2.75. Currently, Zynerba Pharmaceuticals has an average volume of 878.4K.
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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.
