Zogenix, Inc. (NASDAQ:ZGNX) Stock Rating Lowered by BidaskClub
BidaskClub cut shares of Zogenix, Inc. (NASDAQ:ZGNX) from a buy rating to a hold rating in a research report sent to investors on Friday.
Other research analysts also recently issued reports about the company. Zacks Investment Research raised Zogenix from a hold rating to a buy rating and set a $16.00 target price for the company in a research note on Friday, July 7th. Stifel Nicolaus reaffirmed a buy rating and set a $26.00 target price on shares of Zogenix in a research note on Monday, June 26th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $23.00.
Shares of Zogenix (NASDAQ:ZGNX) opened at 12.00 on Friday. The company has a 50-day moving average of $14.15 and a 200 day moving average of $11.65. Zogenix has a 12-month low of $7.50 and a 12-month high of $15.40. The stock’s market capitalization is $297.76 million.
Zogenix (NASDAQ:ZGNX) last announced its quarterly earnings results on Thursday, May 4th. The company reported ($0.85) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.88) by $0.03. Zogenix had a negative return on equity of 57.74% and a negative net margin of 360.89%. The company had revenue of $2.70 million during the quarter, compared to the consensus estimate of $4.23 million. During the same period in the previous year, the company posted ($0.42) earnings per share. Zogenix’s revenue for the quarter was down 70.7% on a year-over-year basis. Analysts predict that Zogenix will post ($3.63) earnings per share for the current year.
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In other Zogenix news, major shareholder Life Sciences Maste Perceptive bought 175,653 shares of Zogenix stock in a transaction dated Friday, June 30th. The stock was acquired at an average cost of $14.45 per share, with a total value of $2,538,185.85. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ZGNX. American International Group Inc. increased its position in shares of Zogenix by 7.1% in the first quarter. American International Group Inc. now owns 15,278 shares of the company’s stock valued at $166,000 after buying an additional 1,010 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Zogenix by 17.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 19,734 shares of the company’s stock valued at $214,000 after buying an additional 2,864 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Zogenix by 29.5% in the first quarter. Nationwide Fund Advisors now owns 18,748 shares of the company’s stock valued at $203,000 after buying an additional 4,266 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Zogenix by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 103,459 shares of the company’s stock valued at $1,123,000 after buying an additional 4,583 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Zogenix by 0.6% in the first quarter. Goldman Sachs Group Inc. now owns 878,998 shares of the company’s stock valued at $9,537,000 after buying an additional 5,415 shares during the last quarter. 87.21% of the stock is owned by institutional investors and hedge funds.
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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