Donald Trump On Weed Legalization: What’s In Store For Marijuana Stocks?

Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE)

Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) shares have gained over 129% in value over the past year. Investment firm Cantor Fitzgerald recently gave the Pennsylvania-based synthetic cannabinoid therapeutics company’s stock an ‘Overweight’ rating, with a price target of $28. The company focuses exclusively on transdermal synthetic cannabinoid treatments. On January 3, Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE) initiated a Phase 2 clinical trial of its ZYN002 gel, a treatment for Fragile X syndrome in children.

Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP)

Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP)’s stock almost quadrupled in value in 2016 due to high expectations for its oral endocannabinoid-mimetic drug Resunab. In November, the company announced positive results from a mid-stage clinical study of the treatment, which was designed to study the effects of Resunab’s effectiveness at combating systemic sclerosis, a chronic autoimmune rheumatic disease. Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) also expects to report top-line results from a mid-stage study of Resunab in treating cystic fibrosis in the first quarter. With these potential catalysts, there is a high chance Corbus Pharmaceuticals’ stock will continue to make gains in the coming months.

Insys Therapeutics Inc (NASDAQ:INSY)

Phoenix-based Insys Therapeutics Inc(NASDAQ:INSY) is working on a painkiller based on a synthetic marijuana compound and has a market capitalization of more than $800 million. Last July, FDA approved Syndros, Insys Therapeutics’ treatment for anorexia associated with weight loss in AIDS patients, as well as nausea and vomiting due to chemotherapy treatments for patients with cancer. Syndros is still waiting to be scheduled by the U.S. Drug Enforcement Administration. Piper Jaffray thinks that the drug could reach annual sales of $300 million to $400 million. 2017 is crucial for the company and now appears to be a good time to buy Insys Therapeutics’ shares.

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