Cantor Fitzgerald analyst Charles Duncan maintained a Buy rating on Zynerba Pharmaceuticals (NASDAQ: ZYNE) today and set a price target of $21. The company’s shares closed yesterday at $7.86.
Duncan observed:
“We rate ZYNE Overweight. The company is developing a transdermally administered cannabidiol (CBD) gel, ZYN-002, for the treatment of behavioral symptoms associated with FXS, and seizures in developmental and epileptic encephalopathies (DEE) and adult refractory focal epilepsy (arfe). 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.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 3.6% and a 49.3% 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 Strong Buy, with a price target consensus of $19.67.
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The company has a one-year high of $15.13 and a one-year low of $5.59. Currently, Zynerba Pharmaceuticals has an average volume of 618.3K.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ZYNE in relation to earlier this year.
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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.
