Scopia Capital Management LP cut its holdings in Zogenix, Inc. (NASDAQ:ZGNX) by 25.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,424,247 shares of the company’s stock after selling 486,506 shares during the quarter. Zogenix accounts for 3.0% of Scopia Capital Management LP’s investment portfolio, making the stock its 13th largest holding. Scopia Capital Management LP’s holdings in Zogenix were worth $68,051,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Rhumbline Advisers raised its position in Zogenix by 0.9% in the 1st quarter. Rhumbline Advisers now owns 57,361 shares of the company’s stock valued at $3,155,000 after buying an additional 504 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of Zogenix by 383.1% in the 2nd quarter. Advisor Group Inc. now owns 942 shares of the company’s stock valued at $45,000 after buying an additional 747 shares during the period. Aperio Group LLC boosted its holdings in shares of Zogenix by 14.9% in the 2nd quarter. Aperio Group LLC now owns 5,875 shares of the company’s stock valued at $281,000 after buying an additional 762 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of Zogenix by 3.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 21,966 shares of the company’s stock valued at $1,050,000 after buying an additional 830 shares during the period. Finally, Manchester Capital Management LLC acquired a new position in shares of Zogenix in the 1st quarter valued at about $51,000.

ZGNX traded down $0.04 on Friday, reaching $41.32. 172,398 shares of the company traded hands, compared to its average volume of 623,565. The stock’s 50 day moving average price is $46.07 and its 200-day moving average price is $44.71. Zogenix, Inc. has a 52-week low of $33.43 and a 52-week high of $56.50. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -12.79 and a beta of 2.01. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.19 and a quick ratio of 7.19.

Zogenix (NASDAQ:ZGNX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.89) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.83) by ($0.06). The company had revenue of $1.07 million for the quarter, compared to analysts’ expectations of $15.00 million. During the same quarter in the previous year, the firm earned ($0.83) earnings per share. As a group, equities research analysts forecast that Zogenix, Inc. will post -3.81 earnings per share for the current fiscal year.

A number of research analysts have issued reports on the stock. Mizuho set a $65.00 target price on shares of Zogenix and gave the company a “buy” rating in a research note on Thursday, September 5th. Stifel Nicolaus set a $71.00 target price on shares of Zogenix and gave the company a “buy” rating in a research note on Wednesday, August 7th. Northland Securities set a $60.00 target price on shares of Zogenix and gave the company a “buy” rating in a research note on Monday, August 26th. Piper Jaffray Companies set a $64.00 target price on shares of Zogenix and gave the company a “buy” rating in a research note on Monday, August 26th. Finally, Guggenheim raised shares of Zogenix from a “neutral” rating to a “buy” rating and boosted their target price for the company from $40.00 to $64.00 in a research note on Thursday, June 27th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $57.33.

In other news, CFO Michael P. Smith sold 15,000 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $46.32, for a total transaction of $694,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gail M. Farfel sold 3,446 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $52.00, for a total value of $179,192.00. Following the transaction, the executive vice president now owns 4,891 shares of the company’s stock, valued at approximately $254,332. The disclosure for this sale can be found here. Insiders have sold 73,921 shares of company stock worth $3,579,634 over the last ninety days. 4.40% of the stock is currently owned by insiders.

About Zogenix

Zogenix, Inc, a pharmaceutical company, develops and commercializes therapies for the treatment of transformative central nervous system disorders in the United States. Its lead product candidate is the Fintepla/ZX008, a low-dose fenfluramine, which is in Phase III clinical trials for the treatment of seizures associated with Dravet syndrome.

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Institutional Ownership by Quarter for Zogenix (NASDAQ:ZGNX)

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