Is There More Upside Ahead For Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE)

The Vanguard Group, Inc. has recently announced that it has increased stake in Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) by 12.02%. After grabbing 2.16 million shares, the institutional investor is now in possession of 0.23 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 4.60% having worth around $1.16 million. Moreover, Renaissance Technologies LLC increased its share by 0.37 million to have a control over 1.11 million shares. And Millennium Management LLC raised its holdings to 0.29 million shares by acquiring 0.6 million shares or 1.27% of the stake.

Zynerba Pharmaceuticals Inc. (ZYNE) concluded trading on 01/11/23 at a closing price of $0.56, with 0.61 million shares of worth about $0.34 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -48.15% during that period and on Wednesday the price saw a gain of about 3.70%. Currently the company’s common shares owned by public are about 47.06M shares, out of which, 45.03M shares are available for trading.

Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $11.00 and could fall to a lowest price of $0.76. The stock’s current price level is 89.71% above of average price target set by the analysts, while a rise to estimated low would result in gain of 26.32% for the stock. However, touching the estimated high of $11.00 would mean a gain of 94.91% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 25 times over the past 12 months. They bought 632,418 shares in 15 of the transactions. In 10 selling transactions, insiders dumped 30,735 shares.

ETFMG Alternative Harvest ETF, Vanguard Total Stock Market Index, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Zynerba Pharmaceuticals Inc. ETFMG Alternative Harvest ETF is currently holding 1.55 million shares of worth totaling $0.83 million. The company recently came selling 4348.0 shares which brought its stake up to 3.29% of the company’s outstanding shares. Vanguard Extended Market Index Fu, after buying 0.6 million shares, have now control over 1.28% of the stake in the company. It holds 0.0 shares of worth $0.32 million.

Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) started trading at $0.546, above $0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 0.5625, or with a gain of 3.70%. Stock saw a price change of 0.32% in past 5 days and over the past one month there was a price change of -0.18%. Year-to-date (YTD), ZYNE shares are showing a performance of 5.66% which decreased to -79.26% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.49 but also hit the highest price of $2.94 during that period. The average intraday trading volume for Zynerba Pharmaceuticals Inc. shares is 260.92K. The stock is currently trading -0.47% below its 20-day simple moving average (SMA20), while that difference is down -6.11% for SMA50 and it goes to -45.44% lower than SMA200.

The Vanguard Group, Inc. acquired 2.16 million shares of Zynerba Pharmaceuticals Inc. having value of about $1.16 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.23 million shares in the company valued at close to $129920.0, or have control over 12.02% stake in the company. Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) currently have 47.06M outstanding shares and institutions hold larger chunk of about 23.70% of that. Holding of mutual funds in the company is about 13.04% while other institutional holders and individual stake holders have control over 6.27% and 10.14% of the stake respectively.

The stock has a current market capitalization of $26.24M and its 3Y-monthly beta is at 1.66. It has posted earnings per share of -$0.87 in the same period. It has Quick Ratio of 6.40 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ZYNE, volatility over the week remained 5.22% while standing at 8.83% over the month.

Analysts are in expectations that Zynerba Pharmaceuticals Inc. (ZYNE) stock would likely to be making an EPS of -$0.23 in the current quarter, while forecast for next quarter EPS is -$0.22 and it is -$0.82 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.24 which is -$0.21 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.26 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 50.00% while it is estimated to increase by 18.30% in next year.

Analysts at 4 brokerage firms have issued recommendations for the Zynerba Pharmaceuticals Inc. (ZYNE)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.70. Out of those 4 Wall Street analysts, 3 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by H.C. Wainwright on December 21, 2020 offering a Buy rating for the stock and assigned a target price range of between $12 and $9 to it. On December 31, 2019, ROTH Capital Resumed their recommendations, while on October 21, 2019, Needham Initiated their ratings for the stock with a price target of $18. Stock get a Buy rating from Canaccord Genuity on April 22, 2019.