In a recently released analyst research report, H.C. Wainwright‘s Managing Director of Equity Research and Senior Healthcare Analyst, Oren G. Livnat, CFA, just reiterated his buy rating on shares of Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) with a higher price target.
Oren G. Livnat, CFA’s price target of $23.00 USD per share implies a potential upside of approximately 325.13% based on the last traded price of $5.41 USD on the NASDAQ.
For comparison, the highest analyst price target is $26.00 USD per share of ZYNE, and the lowest analyst price target is $11.00 USD per share of ZYNE, which shows that every analyst on Wall Street is bullish.
Why Livnat Changed His ZYNE Price Target
According to Linvat’s update, “We remain optimistic for positive data, though concede that investors will view this as extremely risky given only open-label data to date, and other companies’ failures in the indication. That said, on the Phase 3 primary “social avoidance” endpoint, open-label FAB-C Phase 2 showed a 55% improvement by week-12, which improved to over 75% at 12-months. Phase 3 will have steady-state dosing approximately double the length of at higher average dose per patient. CONNECT-FX is powered assuming placebo improvement of approximately 20% (higher than the 10-18% seen in the prior ganaxalone trial) and 40% improvement on Zygel (lower than seen in Phase 2). Ahead of FXS data, we expect open-label Phase 2 data for Zygel in rare developmental and epileptic encephalopathies (DEE), which is not yet even in our model.”
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