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ZYNE

Zynerba

$19.43

0.49 (2.59%)

, GWPH

GW Pharmaceuticals

$106.15

-0.52 (-0.49%)

14:29
07/17/17
07/17
14:29
07/17/17
14:29

Before the Move: Watch Zynerba ahead of trial data

With Zynerba Pharmaceuticals (ZYNE) expected to release data from a Phase 2 trial over the next several weeks, Jefferies analyst Biren Amin recently argued that a positive update could lead the shares north of $65-$75. However, a lack of treatment effect could drop the stock to $4-$5. CANNABIDIOL GEL: Over the coming weeks, Zynerba is expected to announce data from its ZYN002 cannabidiol, or CBD, gel Phase 2 STAR 1 trial in adult epilepsy patients with refractory focal seizures. ZYN002 is a synthetic CBD formulated as a permeation-enhanced gel for transdermal delivery. BINARY EVENT: In a research note to investors, Jefferies' 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. Given investors naturally compare the program to GW Pharma's (GWPH) Epidiolex, and oral CBD, the analyst believes a better comparison would be to therapies tested in patients with partial-onset seizures who are uncontrolled on their current therapy. Additionally, Amin noted that while the study is designed for a 20% treatment effect over a placebo, an effect greater than 15% could be considered clinically relevant. A key question that remains unanswerable is the extent of activity observed with ZYN002 given this is the first study evaluating efficacy in epilepsy patients, he contended. Amin told investors that positive data could lead to shares north of $65-$75, but a lack of treatment effect could drop shares to $4-$5. The analyst assumes ZYN002 is successfully developed and launched for refractory epilepsy in 2019. Amin reiterated a Buy rating and a $32 price target on the shares. PRICE ACTION: In Monday afternoon trading, shares of Zynerba have dropped 3% to $18.82. Over the last month the stock is up 10%, but over the last three months it has declined nearly 24%. "Before the Move" is The Fly's recurring series of exclusive stories that identify potentially market moving events, along with analyst predictions, ahead of the news.

ZYNE

Zynerba

$19.43

0.49 (2.59%)

GWPH

GW Pharmaceuticals

$106.15

-0.52 (-0.49%)

ZYNE Zynerba
$19.43

0.49 (2.59%)

06/26/17
OPCO
06/26/17
NO CHANGE
Target $29
OPCO
Outperform
Zynerba risk/reward favorable after pullback, says Oppenheimer
Oppenheimer analyst Derek Archila views the risk/reward for shares of Zynerba Pharmaceuticals as favorable with the shares down 30% since April. The company has "multiple shots on goal" to create value, Archila tells investors in a research note. The analyst notes that Zynerba has three Phase 2 read-outs for ZYN002 in the July-September time frame, for refractory epilepsy, knee osteoarthritis and Fragile X syndrome. The analyst has an Outperform rating on the shares with a $29 price target.
06/12/17
MAXM
06/12/17
NO CHANGE
Target $32
MAXM
Buy
Zynerba an 'excellent value' compared to GW Pharmaceuticals, says Maxim
Maxim analyst Gabrielle Zhou said she views Zynerba's (ZYNE) product candidates as "de-risked" alternatives to GW Pharmaceuticals' (GWPH) and calls the stock an "excellent value play" compared to GW, citing the facts that ZYN002 has a better safety and bioavailability profile than GW Pharma's Epidiolex. ZYN002 is also synthetic, not plant based, which could lead to higher margins and better quality control, Zhou tells investors. She keeps a Buy rating and $32 price target on Zynerba shares, adding that 2017 could be "transformational" for the company.
03/31/17
OPCO
03/31/17
NO CHANGE
Target $29
OPCO
Outperform
Oppenheimer remains positive on Zynerba ahead of near-term catalysts
Oppenheimer analyst Derek Archila notes that Zynerba reported Q4 financial results and provided updates on its three ongoing Phase 2 studies for ZYN002 in adult epilepsy, knee osteoarthritis, and Fragile X syndrome, and remains on track to report data for its Phase 2 trials in adult epilepsy and knee osteoarthritis in July/August. Ahead of these near-term catalysts, the analyst remains positive on the shares, though he reminds investors Zynerba is a high-risk/high-reward potential investment. Archila reiterates an Outperform rating and $29 price target on the shares.
03/28/17
HCWC
03/28/17
NO CHANGE
Target $30
HCWC
Buy
Zynerba price target raised to $30 from $22 at H.C. Wainwright
H.C. Wainwright analyst Corey Davis raised his price target for Zynerba Pharmaceuticals to $30 after the company specified yesterday that both its Phase 2 studies with ZYN002, in epilepsy and osteoarthritis pain, will read out in July or August, with epilepsy coming first. The analyst thinks the gel has a "high chance of working." Medical marijuana has utility in a number of different settings and regulators would prefer to have the active compound isolated, regulated, and delivered in a consistent manner, Davis tells investors in a research note. The analyst keeps a Buy rating on Zynerba following the company's Q4 results.
GWPH GW Pharmaceuticals
$106.15

-0.52 (-0.49%)

06/09/17
MAXM
06/09/17
NO CHANGE
MAXM
Buy
GW Pharmaceuticals orphan designation an incremental positive, says Maxim
Maxim analyst Gabrielle Zhou noted that GW Pharmaceuticals received FDA orphan designation for cannabidivarin for treatment of Fragile X syndrome, calling the news an incremental positive. The analyst, who notes that the next investor focus is the phase 2 data expected to be announced mid-2017 for GWP42006 in adult epilepsy, keeps a Buy rating on GW shares.
05/25/17
LEER
05/25/17
NO CHANGE
LEER
Outperform
NEJM validation for Epidiolex, but controversy remains, says Leerink
Leerink analyst Paul Matteis believes publication of the first Dravet study in the New England Journal of Medicine offers "further validation of the robustness" of the positive phase III trial for GW Pharmaceuticals' Epidiolex. No new safety issues were disclosed and statistical sensitivity analyses corroborated the positive primary efficacy analysis, Matteis tells investors in a research note. Not included in the publication, however, is further color on the clobazam drug-drug interaction, which continues to remain a subject of investor controversy and interest heading into the mid-2017 new drug application filing, Matteis writes. He reiterates an Outperform rating on GW shares.
04/21/17
MAXM
04/21/17
INITIATION
Target $135
MAXM
Buy
GW Pharmaceuticals initiated with a Buy at Maxim
Maxim analyst Lauren Chung initiated GW Pharmaceuticals with a Buy rating and $135 price target, calling the company the "market leader" in cannabis therapeutics with a first-mover advantage in epilepsy.

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DYN

Dynegy

$9.53

0.085 (0.90%)

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BMRN

BioMarin

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-1.12 (-1.18%)

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IBM

IBM

$160.45

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, ABT

Abbott

$56.00

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BMRN

BioMarin

$93.54

-1.12 (-1.18%)

12:29
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12:29
Earnings
BioMarin sees 2017 product revenue at mid-point of guidance »

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EQT

EQT Corporation

$62.94

-0.3799 (-0.60%)

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EQT Corporation call volume above normal and directionally bullish »

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NLSN

Nielsen

$41.06

1.06 (2.65%)

, LGF

Use LGF.A, LGF.B

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Nielsen to independently measure subscription-based streaming content. »

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NLSN

Nielsen

$41.06

1.06 (2.65%)

LGF

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DIS

Disney

$97.64

-0.7161 (-0.73%)

TWX

Time Warner

$101.12

-0.34 (-0.34%)

NFLX

Netflix

$199.48

-3.2 (-1.58%)

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$NSD

NASDAQ Market Internals

12:17
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$NYE

NYSE Market Internals

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NYSE market internals summary »

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MOBL

MobileIron

$3.80

-0.1 (-2.56%)

12:10
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Downgrade
MobileIron rating change  »

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MBI

MBIA

$7.08

0.07 (1.00%)

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Far downside put buyer in MBIA opens a notable new position »

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MOBL

MobileIron

$3.80

-0.1 (-2.56%)

12:07
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Downgrade
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STLD

Steel Dynamics

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Technical Earnings Preview: Steel Dynamics has a potential bullish pattern »

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DANOY

Danone

$16.67

0.3 (1.83%)

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NFLX

Netflix

$199.48

-3.2 (-1.58%)

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GMLP

Golar LNG Partners

$22.98

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IPXL

Impax

$19.30

-0.65 (-3.26%)

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Conference/Events
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BITCOIN

Bitcoin

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EBAY

eBay

$37.49

-0.28 (-0.74%)

, SHOP

Shopify

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AMZN

Amazon.com

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XOP

SPDR Oil Exploration and Production Fund

$33.41

-0.26 (-0.77%)

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HLF

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