Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) finished Thursday with an addition of $0.01 to close at $1.33, an upside of 0.38 percent. An average of 729,689 shares of common stock have been traded in the last five days. There was a gain of $0.0100 in the past week, and it reached a new high 2 times over the past 12 months. The last 20 days have seen an average of 1,852,602 shares traded, while the 50-day average volume stands at 863,729.
ZYNE stock has increased by 273.13% in the last month. The company shares reached their 1-month lowest point of $0.3321 on 08/11/23. With the stock rallying to its 52-week high on 08/14/23, shares of the company touched a low of $0.25 and a high of $1.38 in 52 weeks. It has reached a new high 10 times so far this year and achieved 150.00% or $0.8000 in price. In spite of this, the price is down -3.99% 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 72 days ago on Jun 14. In this transaction, the insider spent $40. Director, MOCH KENNETH I, disposed of 115 shares at a price of $0.35 on Jun 14. The insider now owns more than $40 worth of shares. Prior to that, Director Stephenson Pamela went on to Sale 115 shares at $0.35 each on Jun 14. An amount of $40 was transacted.
Valuation Metrics
Zynerba Pharmaceuticals Inc. (ZYNE) stock’s beta is 0.89. Other valuation ratios to consider include the price-to-book (PB) ratio at 2.28.
Financial Health
The quick ratio of Zynerba Pharmaceuticals Inc. for the three months ended June 29 was 3.40, and the current ratio was 3.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Its gross profit as reported stood at $35.25 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Zynerba Pharmaceuticals Inc.’s return on assets was -72.60%.
Earnings Surprise
The company posted a net income of -$10.78 million in the quarter, while revenues were grew 8.63%. The analyst consensus anticipated Zynerba Pharmaceuticals Inc.’s latest quarter earnings to come in at -$0.2 per share, but it turned out to be -$0.21, a -5.00% surprise. Shareholders own equity worth $53.94 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Zynerba Pharmaceuticals Inc. (ZYNE) price momentum. RSI 9-day as of the close on 24 August was 85.24%, suggesting the stock is Overbought, with historical volatility in this time frame at 38.77%.
As of today, ZYNE’s price is $1.3040 +0.76% or $0.0100 from its 5-day moving average. ZYNE is currently trading +269.65% higher than its 20-day SMA and +210.75% higher than its 100-day SMA. However, the stock’s current price level is +291.18% above the SMA50 and +94.62% above the SMA200.
The stochastic %K and %D were 93.96% and 92.79%, respectively, and the average true range (ATR) was 0.0754. With the 14-day stochastic at 95.23% and the average true range at 0.0708, the RSI (14) stands at 85.05%. The stock has reached 0.0100 on the 9-day MACD Oscillator while the 14-day reading was at 0.2834.
Analyst Ratings
H.C. Wainwright reiterated its a Buy rating on Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE), but raised their price target to $12, indicating a potential price increase of 88.92% for the stock. The consensus rating for Zynerba Pharmaceuticals Inc. (ZYNE) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ZYNE, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.
What is ZYNE’s price target for the next 12 months?
Analysts predict a range of price targets between $1.11 and $1.40, with a median target of $1.25. Taking a look at these predictions, the average price target given by analysts for Zynerba Pharmaceuticals Inc. (ZYNE) stock is $1.25.
