Zynerba Pharmaceuticals (ZYNE) Gains But Lags Market: What You Should Know
Zynerba Pharmaceuticals (ZYNE) closed the most recent trading day at $3.47, moving +1.76% from the previous trading session. This change lagged the S&P 500's 2.28% gain on the day. At the same time, the Dow added 2.24%, and the tech-heavy Nasdaq gained 1.72%.
Prior to today's trading, shares of the specialty pharmaceutical company had lost 19% over the past month. This has lagged the Medical sector's loss of 8.8% and the S&P 500's loss of 16.08% in that time.
Investors will be hoping for strength from ZYNE as it approaches its next earnings release. The company is expected to report EPS of -$0.49, down 4.26% from the prior-year quarter.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 13.59% higher. ZYNE is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Generic Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 46, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Zynerba Pharmaceuticals, Inc. (ZYNE) : Free Stock Analysis Report
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