In a recently released analyst research report, Canaccord Genuity analyst Sumant Kulkarni initiated coverage of cannabinoid biopharmaceutical innovator Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) with a buy rating and price target that suggests some huge upside to come.
Slightly lower than H.C. Wainwright Senior Healthcare Analyst Oren Livnat’s price target, Sumant Kulkarni’s price target of $18.00 USD per share implies a potential upside of approximately 84.05% based on the last traded price of $9.78 USD per share on the NASDAQ.
According to TheFly, “Canaccord analyst Sumant Kulkarni assumed coverage of Zynerba Pharmaceuticals with a Buy rating and $18 price target. In a research note to investors, Kulkarni says he believes Zynerba, with Zygel’s multiple shots on goal, presents significant opportunity for risk-tolerant investors heading into key events, including data for an open-label Phase 2 trial in developmental and epileptic encephalopathies in the third quarter of 2019, and data for a trial for Fragile X syndrome in the second half of the year.”
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