Information Provided By:
Fly News Breaks for March 20, 2017
ZYNE
Mar 20, 2017 | 08:13 EDT
Roth Capital analyst Michael Higgins raised his price target for Zynerba to $30 from $25, citing his increasing confidence in the outcome of STAR 1. The analyst reiterates a Buy rating on the shares.
News For ZYNE From the Last 2 Days
ZYNE
Aug 15, 2017 | 10:34 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Deere (DE) downgraded to Neutral from Buy at BofA/Merrill with analyst Ross Gilardi saying he is cautious into the print given recent data and expects the pace of earnings performance relative to expectations to begin to subside. 2. Zynerba (ZYNE) was downgraded to Perform from Outperform at Oppenheimer and to Hold from Buy at Jefferies. 3. Uniti Group (UNIT) downgraded to Neutral from Buy at BofA/Merrill with analyst David Barden saying Windstream's (WIN) dividend cut increases concerns about the health of the business and, combined with Uniti's increasing cost of capital, creates a negative feedback loop for the stock. 4. Farmland Partners (FPI) downgraded to Neutral from Outperform at Baird with the firm's analyst saying financial leverage is moving towards 18x EBITDA following the recent preferred offering, and the participating rights could create a liability for the common holders that could grow over time and a common dividend AFFO payout ratio over 130% estimated through YE19. 5. Banco Santander (SAN) downgraded to Neutral from Buy at Goldman Sachs with analyst Jose Abad seeing the valuation as full following the recent outperformance of the shares. The analyst lowered his price target for the shares to EUR 6.40. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
ZYNE
Aug 15, 2017 | 10:34 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Snap (SNAP) upgraded to Overweight from Neutral at Cantor with analyst Kip Paulson saying he believes the risk/reward has shifted significantly following yesterday's expiration of the largest remaining lock-up period and the 8.5% share decline since Snap's second quarter earnings report. 2. GoPro (GPRO) upgraded to Neutral from Sell at Goldman Sachs with analyst Doug Clark saying GoPro is on track to launch a new HERO6 camera in the second half of 2017, and product launches have historically been a positive catalyst for the stock. 3. NetApp (NTAP) upgraded to Buy from Neutral at Longbow with analyst Joe Wittine citing a survey which showed that the company's share gains have continued. 4. American Eagle (AEO) upgraded to Buy from Neutral at FBR Capital with analyst Susan Anderson saying the valuation "has become very attractive." 5. Zynerba (ZYNE) upgraded to Buy from Neutral at Roth Capital with analyst Michael Higgins saying he was not bullish on yesterday's failed ZYN002 in osteoarthritis study. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
ZYNE
Aug 15, 2017 | 08:18 EDT
Roth Capital analyst Michael Higgins upgraded Zynerba Pharmaceuticals to Buy from Neutral with a $15 price target. Both Oppenheimer and Jefferies downgraded the stock this morning. The analyst says he was not bullish on yesterday's failed ZYN002 in osteoarthritis study. He views the corresponding selloff as a buying opportunity ahead of ZYN002's data in 20 children with Fragile X Syndrome, which is due in September. Unlike the fixed dosing regimens of the previous two trials, the dose regimen in the FAB-C trial will be beneficial to the trial's outcome, Higgins tells investors in a research note.
ZYNE
Aug 14, 2017 | 16:23 EDT
Stocks opened sharply higher and remained there throughout the entire. The market spent the opening hour drifting higher and when it finally found its level, it proceeded to move in a narrow trading range for several hours. With the market's advance, it put it back into positive territory for the month. The market is coming off its worst weekly performance and with its losses of roughly 1.5%, the dip was seen as a buying opportunity for investors looking to pick up perceived bargains. The move was broad based with equity market internals decidedly positive but with the oil sector under pressure and losing almost 2.0% of its value. ECONOMIC NEWS: In the U.S., the Treasury announced a $35B 4-week bill sale for Tuesday, a $10B cut from the $45B amount that was in place for the last four auctions. COMPANY NEWS: Following the violent rally in Charlottesville, Virginia over the weekend, shares of drug giant Merck (MRK) were in focus after chairman and CEO Kenneth Frazier announced his resignation from President Trump's American Manufacturing Council. In a statement, Frazier said that "as a matter of personal conscience," he feels as "responsibility to take a stand against intolerance and extremism." Shortly after the Merck executive announced the move, Trump responded by tweeting that, now that Frazier had resigned from the council, he will have more time to "LOWER RIPOFF DRUG PRICES!"... Meanwhile, Reuters reported that Neo-Nazi website The Daily Stormer had moved its domain registration to Google (GOOG) after prior host GoDaddy (GDDY) said it would cut ties with the site that promoted the rally in Charlottesville. A Google spokesperson later told CNBC that the internet giant had canceled The Daily Stormer's registration. GoDaddy shares rose 1.9% after the move... In earnings news, shares of Sysco (SYY) fell about 1% after the company reported quarterly earnings mostly in line with analysts' estimates. In slides that were presented on its quarterly earnings call, the company noted that it sees inflation continuing for the balance of calendar year 2018... In addition, CNBC reported that Apple (AAPL) and Aetna (AET) held secret talks last week to negotiate bringing free or discounted Apple Watches as a perk to the insurers 23M members. MAJOR MOVERS: Among the noteworthy gainers was Neff (NEFF), which advanced 19% after it received a "superior proposal" for an acquisition of the company for $25 per share in cash. The company noted that its board hasn't changed its recommendation in support of the previously agreed upon merger with H&E Equipment Services (HEES), whose shares slipped about 3% after the news. Also higher was Fiat Chrysler (FCAU), which gained 8.5% in New York after Automotive News reported that representatives of a Chinese car maker made a bid to purchase the company at a "small premium" over its market value. The report noted that the offer was rejected for not being high enough. Among the notable losers was Zynerba (ZYNE), which fell 8.7% after its Phase 2 STOP trial failed to meet its primary endpoint. Also lower was JD.com (JD), which slid 3.6% after it reported quarterly results. INDEXES: The Dow rose 135.12, or 0.62%, to 21,993.44, the Nasdaq gained 83.68, or 1.34%, to 6,340.23, and the S&P 500 advanced 24.46, or 1%, to 2,465.78.
ZYNE
Aug 14, 2017 | 12:16 EDT
Stocks opened sharply higher and have continued to drift higher throughout the morning. The strength has been attributed to both the easing of tensions with North Korea and investors who were looking to take advantage of last week's 1.5% drop. The drop accounted for the market's worst weekly performance of the year. Oil prices have drifted lower throughout the morning as it continues to struggle with the supply/demand balance. ECONOMIC NEWS: In the U.S., the Treasury announced a $35B 4-week bill sale for Tuesday, a $10B cut from the $45B amount that was in place for the last four auctions. COMPANY NEWS: Shares of drug giant Merck (MRK) were in focus, trading slightly higher at midday after chairman and chief executive officer Kenneth Frazier announced his resignation from President Trump's American Manufacturing Council. In a statement, Frazier said that "as a matter of personal conscience," he feels as "responsibility to take a stand against intolerance and extremism." Shortly after the Merck executive announced the move, Trump responded by tweeting that, now that Frazier had resigned from the council, he will have more time to "LOWER RIPOFF DRUG PRICES!"... Meanwhile, shares of Sysco (SYY) fell 1.2% after the company reported quarterly earnings mostly in line with analysts' estimates. In slides that were presented on its quarterly earnings call, the company noted that it sees inflation continuing for the balance of calendar year 2018... In addition, Snap (SNAP) shares gained nearly 5.2% after it confirmed the acquisition of Zenly for $213.3M in cash in a regulatory filing. In addition, while certain lockup agreements related to the company's IPO expired on July 31, Snap employees were subject to a pre-earnings blackout period and only today are able to sell an estimated 782M shares on the public markets for the first time. MAJOR MOVERS: Among the noteworthy gainers was Neff (NEFF), which advanced 18.5% after it received a "superior proposal" for an acquisition of the company for $25 per share in cash. The company noted that its board hasn't changed its recommendation in support of the previously agreed upon merger with H&E Equipment Services (HEES), whose shares slipped about 2% after the news. Also higher was Fiat Chrysler (FCAU), which gained 8.3% in New York after Automotive News reported that representatives of a Chinese car maker made a bid to purchase the company at a "small premium" over its market value. The report noted that the offer was rejected for not being high enough. Among the notable losers was Zynerba (ZYNE), which fell 8.3% after its Phase 2 STOP trial failed to meet its primary endpoint. Also lower was JD.com (JD), which slid roughly 3% after it reported quarterly results. INDEXES: Near midday, the Dow was up 150.83, or 0.69%, to 22,009.15, the Nasdaq was up 77.44, or 1.24%, to 6,333.99, and the S&P 500 was up 25.35, or 1.04%, to 2,466.67.
ZYNE
Aug 14, 2017 | 10:23 EDT
Shares of Zynerba Pharmaceuticals (ZYNE) plunged in morning trading after the company's Phase 2 STOP trial of ZYN002 failed to meet its primary endpoint. The disappointing results follow news earlier this month that ZYN002 did not show significant seizure reduction in its Phase 2 STAR 1 trial. PHASE 2 STOP TRIAL: Zynerba this morning reported top line results from its Phase 2 STOP trial assessing ZYN002 for the treatment of knee pain due to osteoarthritis. The company said the study did not achieve its primary endpoint of a statistically significant reduction from baseline in the weekly mean of the 24-hour worst pain score at week 12 for either dose. However, Zynerba said the study did demonstrate significantly significant results on several of its secondary endpoints, including worst average daily pain scores and an improvement in the WOMAC physical function score. Armando Anido, Chairman and Chief Executive Officer of Zynerba, commented that despite not meeting the primary endpoint, results of the study "are very encouraging" as data from the STOP trial will help shape future studies with ZYN002 in osteoarthritis." Anido noted that Zynerba plans to request an end of Phase 2 meeting with the U.S. Food and Drug Administration, and sees the meeting taking place before the end of the year. It intends to move ZYN002 into Phase 3 development for OA. Zynerba is also currently evaluating ZYN002 in an exploratory Phase 2 FAB-C study in children with Fragile X syndrome, and top line data are expected by the end of September. FAILED PHASE 2 STAR 1 TRIAL: On August 7, Zynerba announced that ZYN002 did not demonstrate a statistically significant reduction of focal seizures during the treatment period compared to the baseline period for either the high or low dose cohorts compared to placebo in the company's Phase 2 STAR 1 clinical trial. "We are very disappointed that the STAR 1 trial did not meet its primary endpoint in this patient population," Anido said at the time. RECENT ANALYST DOWNGRADES: Following the results of the STAR 1 trial, several analysts downgraded the stock, including analysts at Piper Jaffray, Cantor Fitzgerald. In addition, Maxim analyst Gabrielle Zhou downgraded Zynerba to Hold from Buy and removed her price target saying she's uncertain about the clinical pathway forward for the company following the failed Phase 2 study. H.C. Wainwright analyst Corey Davis also downgraded the name to Neutral and cut his price target for the shares to $7 from $30. Davis said the direction is unclear for ZYN002 and removed all revenues for ZYN002 in epilepsy from his model. Additionally, Roth Capital analyst Michael Higgins downgraded Zynerba to Neutral from Buy and cut his price target for the shares to $7 from $30 and said he he is "surprised and disappointed" that ZYN002 missed the primary endpoint in its first Phase 2 study. Higgins likes ZYN002's outlook in the 16-patient Fragile X Syndrome Phase 2 study but says he cannot recommend Zynerba shares ahead of the Phase 2 osteoarthritis trial. In a prior research note to investors, Jefferies analyst Biren Amin pointed out that the STAR-1 trial represents a "critical catalyst" for Zynerba as it provides the first proof of concept for transdermally delivered CBD. PRICE ACTION: Zynerba dropped 20.6% to $5.58 in morning trading. Shares are down 64.5% year-to-date.
ZYNE
Aug 14, 2017 | 06:48 EDT
Zynerba Pharmaceuticals reported top line results from its Phase 2 STOP, or Synthetic Transdermal Cannabidiol for Treatment of Knee Pain due to Osteoarthritis, clinical trial evaluating ZYN002. The study did not meet its primary endpoint of reduction from baseline in the weekly mean of the 24-hour average worst pain score at week 12 for either dose. However, statistically significant results were achieved for a number of secondary endpoints. Importantly, the composite responder analysis for 250 mg daily of ZYN002 4.2% CBD gel achieved statistical significance. A trend toward statistical significance was observed in other secondary endpoints. "Many osteoarthritis patients using currently available medicines do not experience relief from pain and improved physical functioning, or cannot tolerate them due to side effects," said Daniel Clauw, M.D., Professor of Pain Management and Anesthesiology at the University of Michigan, and Director of the Chronic Pain and Fatigue Research Center. "The STOP trial results are encouraging and suggest that ZYN002 can play an important role in impacting the pain and impaired physical function associated with osteoarthritis, with a well-tolerated safety profile. I am particularly impressed with the composite analysis result which accounts for both pain and physical function. I believe that ZYN002 may provide a promising treatment option for OA, and I look forward to participating in future studies."
Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.


TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.