Michael Higgins, the Senior Research Analyst for Specialty Pharmaceuticals at ROTH Capital Partners upgraded shares of Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) from a Neutral rating to Buy rating. Higgins' new price target for the stock is $15 per share. At the time of writing this, shares of ZYNE were trading at $6.91 per share, representing a roughly 117% upside.
Related: ZYNE Shares Plunge 50% on Clinical Trial Data
Higgins' $15 price target is just north of the average analyst price target of $14.38, according to Yahoo Finance. As reported by StreetInsider, "Michael Higgins sees an opportunity to get long after telling clients that he was previously bullish on the ZYN002 trial." Higgins' upgrade comes the same day that Oppenheimer downgraded Zynerba from Outperform to Market Perform and Jefferies downgraded Zynerba from a Buy to a Hold.
Related: 7 Things to Know About ZYNE's Pipeline & Q2 Earnings
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