Zynerba Pharmaceuticals (ZYNE - Free Report) closed at $3.83 in the latest trading session, marking a +0.17% move from the prior day. This move lagged the S&P 500's daily gain of 1.15%. At the same time, the Dow added 2.39%, and the tech-heavy Nasdaq lost 0.45%.
Coming into today, shares of the specialty pharmaceutical company had lost 24.19% in the past month. In that same time, the Medical sector lost 19.66%, while the S&P 500 lost 24.07%.
Wall Street will be looking for positivity from ZYNE as it approaches its next earnings report date. In that report, analysts expect ZYNE to post earnings of -$0.49 per share. This would mark a year-over-year decline of 4.26%.
Investors might also notice recent changes to analyst estimates for ZYNE. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.85% higher. ZYNE is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Generic Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.