Zogenix, Inc. (ZGNX) Rating Increased to Hold at ValuEngine
ValuEngine upgraded shares of Zogenix, Inc. (NASDAQ:ZGNX) from a sell rating to a hold rating in a report published on Saturday.
A number of other brokerages also recently weighed in on ZGNX. Stifel Nicolaus reaffirmed a buy rating and issued a $26.00 target price on shares of Zogenix in a research note 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 target for the company in a research note on Friday, July 7th. BidaskClub cut shares of Zogenix from a strong-buy rating to a buy rating in a research note on Wednesday, July 19th. Finally, Mizuho began coverage on shares of Zogenix in a report on Wednesday, September 6th. They issued a buy rating and a $28.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $40.00.
Shares of Zogenix (NASDAQ:ZGNX) opened at 38.85 on Friday. The company’s 50 day moving average price is $15.41 and its 200 day moving average price is $13.27. Zogenix has a 12-month low of $7.50 and a 12-month high of $41.65. The firm’s market cap is $965.07 million.
Zogenix (NASDAQ:ZGNX) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.90) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.89) by ($0.01). The business 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 firm’s revenue for the quarter was up 238.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.76) EPS. Equities research analysts forecast that Zogenix will post ($3.65) EPS for the current year.
In other news, major shareholder Life Sciences Maste Perceptive acquired 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were bought at an average cost of $37.50 per share, with a total value of $11,250,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 5.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in Zogenix in the second quarter worth approximately $100,000. Stifel Financial Corp bought a new position in Zogenix during the second quarter valued at approximately $175,000. Voya Investment Management LLC grew its position in Zogenix by 13.5% during the second quarter. Voya Investment Management LLC now owns 14,147 shares of the company’s stock valued at $205,000 after acquiring an additional 1,686 shares during the last quarter. American International Group Inc. grew its position in Zogenix by 7.1% during the first quarter. American International Group Inc. now owns 15,278 shares of the company’s stock valued at $166,000 after acquiring an additional 1,010 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Zogenix during the second quarter valued at approximately $231,000. Institutional investors own 87.21% 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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