Traders Buy High Volume of Zynerba Pharmaceuticals Put Options (NASDAQ:ZYNE)

Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) was the target of some unusual options trading on Tuesday. Investors purchased 2,036 put options on the company. This represents an increase of approximately 1,655% compared to the typical volume of 116 put options.

Several equities analysts recently issued reports on ZYNE shares. Canaccord Genuity set a $18.00 price objective on Zynerba Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, June 28th. ValuEngine cut Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. BidaskClub cut Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Cantor Fitzgerald raised their price objective on Zynerba Pharmaceuticals from $12.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Finally, Zacks Investment

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