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Zynerba Pharmaceuticals (ZYNE) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
Cooper Cos. (COO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Zynerba Pharmaceuticals (ZYNE) closed the most recent trading day at $8.23, moving -0.84% from the previous trading session. This change lagged the S&P 500's daily loss of 0.23%. Meanwhile, the Dow lost 0.01%, and the Nasdaq, a tech-heavy index, lost 0.05%.

Prior to today's trading, shares of the specialty pharmaceutical company had gained 49.01% over the past month. This has outpaced the Medical sector's loss of 5.45% and the S&P 500's gain of 3.16% in that time.

Wall Street will be looking for positivity from ZYNE as it approaches its next earnings report date. The company is expected to report EPS of -$0.46, up 49.45% from the prior-year quarter.

It is also important to note the recent changes to analyst estimates for ZYNE. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.18% higher within the past month. ZYNE is holding a Zacks Rank of #2 (Buy) right now.

The Medical - Generic Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow ZYNE in the coming trading sessions, be sure to utilize Zacks.com.


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