Zogenix, Inc. (ZGNX) Lifted to Outperform at William Blair
William Blair upgraded shares of Zogenix, Inc. (NASDAQ:ZGNX) from a market perform rating to an outperform rating in a report published on Friday, Marketbeat reports. William Blair also issued estimates for Zogenix’s Q1 2018 earnings at ($0.87) EPS, Q2 2018 earnings at ($0.85) EPS, Q3 2018 earnings at ($0.90) EPS and Q4 2018 earnings at ($0.93) EPS.
A number of other brokerages also recently weighed in on ZGNX. BidaskClub upgraded shares of Zogenix from a sell rating to a hold rating in a research report on Friday, August 18th. Mizuho initiated coverage on shares of Zogenix in a research note on Wednesday, September 6th. They set a buy rating and a $28.00 target price on the stock. Stifel Nicolaus restated a buy rating and set a $26.00 target price on shares of Zogenix in a research report on Monday, June 26th. ValuEngine cut Zogenix from a hold rating to a sell rating in a research report on Friday, September 1st. Finally, Zacks Investment Research upgraded Zogenix from a hold rating to a buy rating and set a $16.00 price target for the company in a research note on Friday, July 7th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $28.80.
Shares of Zogenix (NASDAQ:ZGNX) opened at 35.05 on Friday. Zogenix has a 12-month low of $7.50 and a 12-month high of $37.55. The company’s market capitalization is $870.68 million. The firm’s 50-day moving average price is $12.85 and its 200-day moving average price is $12.50.
Zogenix (NASDAQ:ZGNX) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.89) by ($0.01). The firm had revenue of $7.10 million for the quarter, compared to analysts’ expectations of $3.48 million. Zogenix had a negative return on equity of 70.75% and a negative net margin of 309.76%. The business’s quarterly revenue was up 238.1% on a year-over-year basis. During the same period last year, the company posted ($0.76) earnings per share. On average, analysts expect that Zogenix will post ($3.69) EPS for the current fiscal year.
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A number of large investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in Zogenix during the second quarter valued at $100,000. American International Group Inc. grew 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 purchasing an additional 1,010 shares during the period. Stifel Financial Corp acquired a new stake in shares of Zogenix in the second quarter valued at about $175,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Zogenix in the first quarter valued at about $185,000. Finally, Nationwide Fund Advisors grew 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 purchasing an additional 4,266 shares during the period. Institutional investors own 87.15% of the company’s stock.
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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