Granite Point Capital Management L.P. Invests $2.25 Million in Zogenix, Inc. (ZGNX) Stock
Granite Point Capital Management L.P. bought a new position in shares of Zogenix, Inc. (NASDAQ:ZGNX) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 64,100 shares of the company’s stock, valued at approximately $2,247,000. Zogenix makes up 0.5% of Granite Point Capital Management L.P.’s portfolio, making the stock its 22nd largest position. Granite Point Capital Management L.P. owned about 0.19% of Zogenix as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Zogenix by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 974,948 shares of the company’s stock valued at $10,578,000 after purchasing an additional 70,617 shares during the last quarter. VHCP Management II LLC purchased a new position in shares of Zogenix in the 3rd quarter valued at approximately $31,792,000. Dimensional Fund Advisors LP raised its position in shares of Zogenix by 13.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 464,761 shares of the company’s stock valued at $6,739,000 after purchasing an additional 54,120 shares during the last quarter. State Street Corp raised its position in Zogenix by 9.5% during the 2nd quarter. State Street Corp now owns 446,593 shares of the company’s stock worth $6,474,000 after buying an additional 38,588 shares during the last quarter. Finally, Northern Trust Corp raised its position in Zogenix by 15.3% during the 2nd quarter. Northern Trust Corp now owns 341,309 shares of the company’s stock worth $4,949,000 after buying an additional 45,219 shares during the last quarter. Institutional investors own 73.43% of the company’s stock.
In other news, major shareholder Life Sciences Maste Perceptive acquired 222,055 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were acquired at an average price of $32.83 per share, with a total value of $7,290,065.65. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 6.60% of the stock is owned by company insiders.
A number of equities analysts have issued reports on the stock. BidaskClub lowered shares of Zogenix from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. ValuEngine lowered shares of Zogenix from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. JMP Securities began coverage on shares of Zogenix in a research report on Monday, November 27th. They set an “outperform” rating and a $56.00 price target for the company. Zacks Investment Research cut shares of Zogenix from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Finally, Mizuho reaffirmed a “buy” rating and set a $51.00 price objective (up previously from $28.00) on shares of Zogenix in a research note on Friday, September 29th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $42.67.
Shares of Zogenix, Inc. (NASDAQ:ZGNX) opened at $34.85 on Wednesday. Zogenix, Inc. has a one year low of $7.70 and a one year high of $42.60. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.23.
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Zogenix Company Profile
Zogenix, Inc is a pharmaceutical company engaged in developing and commercializing central nervous system (CNS) therapies that address specific clinical needs for people living with orphan and other CNS disorders. Its primary area of therapeutic focus is epilepsy and related seizure disorders. Its lead product candidate, ZX008, is a low-dose fenfluramine for the treatment of seizures associated with Dravet syndrome.
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