The stock of Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) increased by $0.02 on Wednesday to $1.35, up 1.57 percent. The last five days have seen an average of 757,501 shares of common stock traded. 11 times new highs were reached in the current year, with a gain of $0.8212. The average number of shares traded over the last 20 days was 663,205, while the average volume over the last 50 days totaled 1,004,170.
ZYNE stock appreciated 6.37% since last month. On 08/21/23, the company’s shares reached a one-month low of $1.2600. The stock touched a high of $1.40 on 09/15/23, after rallying from a low of $0.25 in 52 weeks. The price of ZYNE stock has risen by 154.89% or $0.8212 this year, reaching a new high 11 times. Still, the stock price is down -3.51% 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 7 days ago on Sep 13. On Sep 13, Chairman & Chief Exec. Officer ANIDO ARMANDO sold 17,830 shares at $1.33 each. This transaction resulted in the insider making $23,637. On Sep 13, Sebree Terri B sold 12,401 shares at a price of US$1.33. After the transaction, the insider now owns 596,241 shares. Chief Financial Officer Fickenscher James E had earlier sold 8,998 shares on Sep 13 for $1.33 a share. The transaction was completed for $11,929.
Financial Health
For the three months ended June 29, Zynerba Pharmaceuticals Inc.’s quick ratio was 3.40, while its current ratio was 3.40, 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 -72.60%. In the meantime, the return on equity (ROE) for the last 12 months was -90.00%.
Earnings Surprise
According to Zynerba Pharmaceuticals Inc.’s quarterly financial report for the quarter that ended June 29. It was predicted that Zynerba Pharmaceuticals Inc.’s quarterly earnings would be -$0.21, but it ended up being -$0.2, beating the consensus by -5.00%. At the end of Zynerba Pharmaceuticals Inc.’s most recent quarter ended June 29, its liabilities totaled 11.46 million, while its total debt was $0.22 million. Equity owned by shareholders amounts to $53.94 million.
Technical Picture
Here’s a quick look at Zynerba Pharmaceuticals Inc.’s (ZYNE) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 66.12%, suggesting the stock is Neutral, with a 30.70% historical volatility rate.
The stochastic %K and %D were 30.07% and 46.44% respectively, while the average true range (ATR) was 0.0398. Based on the 14-day stochastic reading of 45.78%, the RSI (14) reading is 72.67%. On the 9-day MACD Oscillator, the stock is at -0.0020.
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 88.75% in the stock price. Analysts have assigned Zynerba Pharmaceuticals Inc. (ZYNE) an Hold rating. ZYNE is a stock that is recommended for selling by 0 brokerage firms, while 4 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 0 others recommend it as a buy.
What is ZYNE’s price target for the next 12 months?
The current consensus forecast for the stock is between $1.11 and $1.40, with a median target price of $1.25. In analyzing these forecasts, the average price target given by analysts for Zynerba Pharmaceuticals Inc. (ZYNE) is $1.25.
