Zynerba Pharmaceuticals (ZYNE - Free Report) closed the most recent trading day at $5.70, moving -0.35% from the previous trading session. This move lagged the S&P 500's daily loss of 0.15%. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq lost 0.24%.
Coming into today, shares of the specialty pharmaceutical company had lost 11.73% in the past month. In that same time, the Medical sector gained 1.01%, while the S&P 500 gained 3.88%.
Investors will be hoping for strength from ZYNE as it approaches its next earnings release. In that report, analysts expect ZYNE to post earnings of -$0.49 per share. This would mark a year-over-year decline of 11.36%.
It is also important to note the recent changes to analyst estimates for ZYNE. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.98% higher. ZYNE currently has a Zacks Rank of #1 (Strong Buy).
The Medical - Generic Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.