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ZYNE

Zynerba

$5.60

-0.12 (-2.10%)

07:38
08/06/18
08/06
07:38
08/06/18
07:38

Zynerba 46% pullback since financing unwarranted, says H.C. Wainwright

Shares of Zynerba Pharmaceuticals are down 46% since the company announced a $30M financing late July, and down 30% from where it priced at $8 per share, H.C. Wainwright analyst Oren Livnat tell investors in a research note. The analyst views the stock weakness as unwarranted. The ZYN002 programs are on track for key 2019 readouts, Livnat points out. He believes Zynerba's current valuation "belies even highly risk-discounted opportunities." The analyst is "perplexed by the extreme ZYNE pullback." Livnat says he's not aware of any erosion of Zynerba's fundamentals or prospects. The analyst reiterates aBuy rating on Zynerba with a $23 price target.

ZYNE Zynerba
$5.60

-0.12 (-2.10%)

02/01/18
HCWC
02/01/18
INITIATION
Target $23
HCWC
Buy
Zynerba assumed with a Buy at H.C. Wainwright
H.C. Wainwright analyst Oren Livnat assumed coverage of Zynerba Pharmaceuticals with a Buy rating and $23 price target. The company could have the first ever Fragile X syndrome treatment approved by end-2020, the analyst contends.
02/01/18
02/01/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Epizyme (EPZM) initiated with a Buy at Roth Capital. 2. Take-Two (TTWO) initiated with an Overweight at Morgan Stanley. 3. AMERI Holdings (AMRH) initiated with an Outperform at Northland. 4. Simply Good Foods (SMPl) initiated with a Buy at SunTrust. 5. Zynerba (ZYNE) assumed with a Buy at H.C. Wainwright. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/16/18
HCWC
04/16/18
NO CHANGE
Target $23
HCWC
Buy
Zynerba shares remain undervalued, says H.C. Wainwright
Zynerba Pharmaceuticals and its pipeline "could gain incremental visibility and appreciation with immediate and near-term catalysts," H.C. Wainwright analyst Oren Livnat tells investors in a research note. The analyst continues to believe the company is undervalued. His $23 price target is based exclusively on 35% probability of success of ZYN002 - synthetic cannabidiol transdermal gel - in Fragile X syndrome. The analyst does not yet include any credit for potential ZYN002 epilepsy indications. Investors may soon begin to give more credit to this indication with two catalysts this month, Livnat writes. He reiterates a Buy rating on Zynerba.
07/05/18
HCWC
07/05/18
NO CHANGE
Target $23
HCWC
Buy
Zynerba failed program not material negative, says H.C. Wainwright
Zynerba Pharmaceuticals this morning announced it is discontinuing development of its transdermal THC pro-drug patch ZYN001 after a Phase 1 study in healthy subjects failed to deliver the targeted potential therapeutic blood levels. This development is not a material negative, H.C. Wainwright analyst Oren Livnat tells investors in a research note. The analyst says he never included ZYN001 for Tourette's or any other indication in his estimates or valuation. He notes that his valuation is entirely based on orphan designated ZYN002 transdermal cannabidiol gel for Fragile X syndrome, entering Phase 3 shortly, "with upside optionality from ongoing work in refractory and rare epilepsies." Livnat views the early-stage ZYN001 termination "as a sign of responsible drug development" and keeps a Buy rating on Zynerba with a $23 price target. The stock in afternoon trading is down 54c to $9.07.

TODAY'S FREE FLY STORIES

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BAYRY

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MOR

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ARE

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XXII

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ZTS

Zoetis

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PDM

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TEVA

Teva

$16.91

0.27 (1.62%)

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FLIC

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SCS

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PRGO

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TRMK

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WIX

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CG

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INVH

Invitation Homes

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Syndicate
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SCS

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BA

Boeing

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SCS

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EOLS

Evolus

, AGN

Allergan

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3.41 (2.26%)

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Initiation
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AGN

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NVCR

Novocure

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