Needham & Company Starts Zynerba Pharmaceuticals (ZYNE) at Buy

Needham & Company analyst Serge Belanger initiates coverage on Zynerba Pharmaceuticals (NASDAQ: ZYNE) with a Buy rating and a price target of $18.00.

The analyst comments "We believe Zygel, a late-stage topical CBD gel product candidate, can leverage advantages of topical delivery to build a presence in the growing CBD therapeutic segment that targets difficult-to-treat neuropsychiatric conditions and rare epilepsy disorders. Thus far, Zygel has demonstrated positive ph 2 results in patients with Fragile X Syndrome (FXS), where it improved key neurobehavioral symptoms, and in children with Developmental and Epileptic Encephalopathies (DEE), where it reduced seizure frequencies. We believe ZYNE's valuation does not account for Zygel's potential to be part of the growing CBD therapeutic landscape and offers a compelling risk/reward profile ahead of multiple key data readouts in 1H20."

For an analyst ratings summary and ratings history on Zynerba Pharmaceuticals click here. For more ratings news on Zynerba Pharmaceuticals click here.

Shares of Zynerba Pharmaceuticals closed at $8.05 yesterday.

You May Also Be Interested In

• Needham Starts Red Violet (RDVT) at Buy, 'offers the leading Cloud identity intelligence platform in the market today'
• UBS Starts Montana Aerospace AG (AERO:SW) at Buy
• Raymond James Starts Community Trust Bancorp (CTBI) at Outperform