Canaccord analyst Sumant Kulkarni downgraded Zynerba Pharmaceuticals to Hold from Buy with a price target of $1.11, down from $10, after the company entered into an agreement to be acquired by Harmony Biosciences (HRMY). The stock is no longer trading on fundamentals, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ZYNE: