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Zynerba Pharmaceuticals Continues Its 3-Day Rally

Zynerba Pharmaceuticals (NASDAQ:ZYNE) stock isn’t done with its rally yet as it continues to climb higher on Thursday.

Zynerba Pharmaceuticals Continues Its 3-Day Rally

Source: Shutterstock

The recent rally of ZYNE stock started on Tuesday, Aug. 28, 2018. This saw the stock finishing the day at $6.80. This is a 4% increase over the stock’s opening price of $6.52 on that day.

The rally for ZYNE stock continued into Wednesday, Aug. 29, 2018. The stock went from its closing price of $6.80 on Tuesday and finished the day off sitting at $8.00. This represents an 17%-increase for Zynerba Pharmaceuticals on Wednesday.

Now the rally for ZYNE stock is still going strong on Thursday, Aug. 30, 2018. The day isn’t done yet, but ZYNE stock is already trading at $8.53 as of noon Thursday. This represents a 6% increase over the stock’s opening price today.

All of these positive days for ZYNE stock are closer to bringing it back to its former glory. The stock started the year out at $12.99, before falling 38% to its closing price of $8.00 on Wednesday.

Zynerba Pharmaceuticals stock has even further to go if it wants to get back to its 52-week high. ZYNE’s 52-week high is $14.58. This means that the stock will have to see a roughly 45% increase from its closing price on Wednesday to make it back to that level.

The current analyst ratings for Zynerba Pharmaceuticals stock has it as a strong buy. This is the average based on the five analysts covering the stock. All five of them have a “Strong Buy” rating for ZYNE stock.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2018/08/zynerba-pharmaceuticals-stock-rally-continues/.

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