In a report released today, Serge Belanger from Needham maintained a Buy rating on Zynerba Pharmaceuticals (ZYNE), with a price target of $16.00. The company’s shares closed last Tuesday at $6.12.
According to TipRanks.com, Belanger is a 4-star analyst with an average return of 6.9% and a 51.4% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, Collegium Pharmaceutical, and KalVista Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Zynerba Pharmaceuticals with a $20.80 average price target, implying a 209.5% upside from current levels. In a report issued on May 11, Ladenburg Thalmann & Co. also reiterated a Buy rating on the stock with a $26.00 price target.
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Based on Zynerba Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $12.34 million. In comparison, last year the company had a GAAP net loss of $9.15 million.
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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. The company was founded by Audra L. Stinchcomb on January 31, 2007 and is headquartered in Devon, PA.
