In the latest trading session, Zynerba Pharmaceuticals (ZYNE) closed at $7.26, marking a -1.43% move from the previous day. This move was narrower than the S&P 500’s daily loss of 1.79%. Elsewhere, the Dow lost 1.86%, while the tech-heavy Nasdaq lost 1.56%.
Coming into today, shares of the specialty pharmaceutical company had lost 30.17% in the past month. In that same time, the Medical sector lost 2.45%, while the S&P 500 gained 0.72%.
ZYNE will be looking to display strength as it nears its next earnings release. In that report, analysts expect ZYNE to post earnings of -$0.51 per share. This would mark a year-over-year decline of 8.51%.
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. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.5% lower. ZYNE is currently sporting a Zacks Rank of #3 (Hold).
The Medical – Generic Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% 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.
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