The stock of Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) increased by $0.92 on Friday to finish at $1.26, up 272.15 percent. The last five days have seen an average of 2,996,075 shares of common stock traded. 10 times new highs were reached in the current year, with a gain of $0.7100. The average number of shares traded over the last 20 days was 849,089, while the average volume over the last 50 days totaled 465,600.
ZYNE stock appreciated 270.95% since last month. On 08/11/23, the company’s shares reached a one-month low of $0.3321. The stock touched a high of $1.37 on 08/14/23, after rallying from a low of $0.25 in 52 weeks. The price of ZYNE stock has risen by 138.04% or $0.7100 this year, reaching a new high 10 times. Still, the stock price is down -7.91% from the 52-week high.
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Insider Transactions
ZYNE stock investors should be aware that Zynerba Pharmaceuticals Inc. (ZYNE) stock had its last reported insider trading activity 61 days ago on Jun 14. On Jun 14, Director KISNER DANIEL L sold 115 shares at $0.35 each. This transaction resulted in the insider making $40. On Jun 14, MOCH KENNETH I sold 115 shares at a price of US$0.35. After the transaction, the insider now owns 75,778 shares. Director Stephenson Pamela had earlier sold 115 shares on Jun 14 for $0.35 a share. The transaction was completed for $40.
Financial Health
For the three months ended March 30, Zynerba Pharmaceuticals Inc.’s quick ratio was 5.00, while its current ratio was 5.00, indicating its ability to pay off its debt. Based on annual data, it had gross profit of $35.25 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ZYNE’s return on assets (ROA) during the last 12 months has been -62.80%. In the meantime, the return on equity (ROE) for the last 12 months was -75.10%.
Earnings Surprise
According to Zynerba Pharmaceuticals Inc.’s quarterly financial report for the quarter that ended March 30. It was predicted that Zynerba Pharmaceuticals Inc.’s quarterly earnings would be -$0.21, but it ended up being -$0.19, beating the consensus by -10.50%. At the end of Zynerba Pharmaceuticals Inc.’s most recent quarter ended March 30, its liabilities totaled 9.67 million, while its total debt was $0.28 million. Equity owned by shareholders amounts to $53.65 million.
Technical Picture
Here’s a quick look at Zynerba Pharmaceuticals Inc.’s (ZYNE) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 96.39%, suggesting the stock is Overbought, with a 641.15% historical volatility rate.
The stochastic %K and %D were 37.48% and 20.58% respectively, while the average true range (ATR) was 0.1346. Based on the 14-day stochastic reading of 86.64%, the RSI (14) reading is 94.12%. On the 9-day MACD Oscillator, the stock is at 0.1927, and the 14-day reading is at 0.2233.
Analyst Ratings
In a note to investors, H.C. Wainwright maintained its a Buy rating on Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE). However, the firm raised their price target to $9, indicating a possible increase of 89.5% in the stock price. Analysts have assigned Zynerba Pharmaceuticals Inc. (ZYNE) an Overweight rating. ZYNE is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 2 others recommend it as a buy.
