After H.C. Wainwright and Ladenburg Thalmann & Co. gave Zynerba Pharmaceuticals (NASDAQ: ZYNE) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Serge Belanger maintained a Buy rating on Zynerba Pharmaceuticals today and set a price target of $16.00. The company’s shares closed last Monday at $3.71, close to its 52-week low of $3.41.
According to TipRanks.com, Belanger is a 1-star analyst with an average return of -2.3% and a 32.4% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, Collegium Pharmaceutical, and Pacira Pharmaceuticals.
Zynerba Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $19.00, a 426.3% upside from current levels. In a report released yesterday, Ladenburg Thalmann & Co. also maintained a Buy rating on the stock with a $26.00 price target.
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The company has a one-year high of $16.47 and a one-year low of $3.41. Currently, Zynerba Pharmaceuticals has an average volume of 630.2K.
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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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