Zynerba Pharmaceuticals (ZYNE) closed the most recent trading day at $5.20, moving -0.38% from the previous trading session. This change lagged the S&P 500's 1.01% gain on the day. Meanwhile, the Dow gained 0.66%, and the Nasdaq, a tech-heavy index, added 1.43%.
Prior to today's trading, shares of the specialty pharmaceutical company had lost 7.45% over the past month. This has lagged the Medical sector's loss of 1.91% and the S&P 500's gain of 0.19% in that time.
ZYNE will be looking to display strength as it nears its next earnings release. In that report, analysts expect ZYNE to post earnings of -$0.49 per share. This would mark a year-over-year decline of 11.36%.
It is also important to note the recent changes to analyst estimates for ZYNE. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 0.94% higher within the past month. ZYNE is currently a Zacks Rank #1 (Strong Buy).
The Medical - Generic Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 163, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Zynerba Pharmaceuticals, Inc. (ZYNE) : Free Stock Analysis Report
To read this article on Zacks.com click here.