Zogenix, Inc. (ZGNX) Holdings Trimmed by Rhumbline Advisers
Rhumbline Advisers reduced its stake in shares of Zogenix, Inc. (NASDAQ:ZGNX) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,919 shares of the company’s stock after selling 900 shares during the period. Rhumbline Advisers owned about 0.12% of Zogenix worth $434,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. American International Group Inc. grew its holdings in Zogenix by 7.1% during the 1st quarter. American International Group Inc. now owns 15,278 shares of the company’s stock worth $166,000 after acquiring an additional 1,010 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in Zogenix by 17.0% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 19,734 shares of the company’s stock worth $214,000 after acquiring an additional 2,864 shares in the last quarter. Nationwide Fund Advisors grew its holdings in Zogenix by 29.5% during the 1st quarter. Nationwide Fund Advisors now owns 18,748 shares of the company’s stock worth $203,000 after acquiring an additional 4,266 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Zogenix by 4.6% during the 1st quarter. Bank of New York Mellon Corp now owns 103,459 shares of the company’s stock worth $1,123,000 after acquiring an additional 4,583 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Zogenix by 0.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 878,998 shares of the company’s stock worth $9,537,000 after acquiring an additional 5,415 shares in the last quarter. 87.21% of the stock is owned by institutional investors.
ZGNX has been the subject of several recent analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $26.00 price objective on shares of Zogenix in a report on Monday, June 26th. Zacks Investment Research raised shares of Zogenix from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Friday, July 7th. BidaskClub lowered shares of Zogenix from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, ValuEngine lowered shares of Zogenix from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $40.00.
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In other Zogenix news, major shareholder Life Sciences Maste Perceptive acquired 300,000 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The stock was bought at an average price of $37.50 per share, for a total transaction of $11,250,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 5.00% of the company’s stock.
Zogenix, Inc. (NASDAQ ZGNX) opened at 38.55 on Friday. The stock has a 50 day moving average of $16.98 and a 200 day moving average of $13.64. Zogenix, Inc. has a 12-month low of $7.50 and a 12-month high of $41.65. The firm’s market capitalization is $957.62 million.
Zogenix (NASDAQ:ZGNX) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.01). Zogenix had a negative net margin of 309.76% and a negative return on equity of 70.75%. The business had revenue of $7.10 million during the quarter, compared to analyst estimates of $3.48 million. During the same quarter in the prior year, the company posted ($0.76) EPS. The company’s quarterly revenue was up 238.1% compared to the same quarter last year. Equities research analysts anticipate that Zogenix, Inc. will post ($3.62) earnings per share for the current year.
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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