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Fly News Breaks for October 21, 2019
ZYNE
Oct 21, 2019 | 07:43 EDT
Needham analyst Serge Belanger initiated coverage of Zynerba with a Buy rating and $18 price target. The analyst cites the potential of the company's late-stage topical CBD gel product candidate Zygel building a "presence" in the growing CBD therapeutic segment while targeting difficult-to-treat neuropsychiatric conditions and rare epilepsy disorders. Belanger notes that Zygel has so far yielded a positive phase 2 result in patients with Fragile X Syndrome as it improved the patients' "key neuro-behavioral symptoms". The analyst further contends that the current valuation of Zynebra does not fully account for the potential of Zygel becoming a part of the developing therapeutic CBD landscape and believes that the stock offers a "compelling" risk/reward ahead of several key data readouts expected in the first half of 2020.
News For ZYNE From the Last 2 Days
ZYNE
Jul 1, 2020 | 07:24 EDT
Needham analyst Serge Belanger downgraded Zynerba to Hold from Buy. The analyst cites the company missing its primary and secondary endpoints in the pivotal phase 3 CONNECT-FX trial, as he looks ahead to its upcoming meeting with FDA to determine whether the FXS program can advance towards approval without an additional clinical trial that could take up to 2 years to report results. Belanger adds that his Hold rating reflects the uncertainty regarding the proposed path forward of the program.