Zogenix (ZGNX) Shares Gap Down on Analyst Downgrade
Zogenix, Inc. (NASDAQ:ZGNX) shares gapped down prior to trading on Wednesday after Svb Leerink lowered their price target on the stock from $60.00 to $48.00. The stock had previously closed at $41.89, but opened at $39.96. Svb Leerink currently has an outperform rating on the stock. Zogenix shares last traded at $39.81, with a volume of 48240 shares trading hands.
A number of other research firms have also recently weighed in on ZGNX. BidaskClub upgraded shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 30th. Mizuho reiterated a “buy” rating and issued a $69.00 target price on shares of Zogenix in a research note on Tuesday, March 12th. Northland Securities set a $70.00 target price on shares of Zogenix and gave the company a “buy” rating in a research note on Friday, April 5th. William Blair reiterated a “buy” rating on shares of Zogenix in a research note on Tuesday. Finally, Guggenheim cut shares of Zogenix from a “buy” rating to a “neutral” rating and set a $38.39 target price on the stock. in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Zogenix presently has a consensus rating of “Buy” and a consensus target price of $62.78.
In other Zogenix news, Director Roger Hawley sold 20,700 shares of the firm’s stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $55.00, for a total transaction of $1,138,500.00. Following the completion of the sale, the director now directly owns 15,575 shares in the company, valued at approximately $856,625. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Stephen J. Farr sold 90,313 shares of the firm’s stock in a transaction dated Thursday, January 10th. The shares were sold at an average price of $45.00, for a total transaction of $4,064,085.00. Following the sale, the chief executive officer now owns 52,259 shares of the company’s stock, valued at $2,351,655. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,796 shares of company stock valued at $10,893,436. 4.60% of the stock is currently owned by corporate insiders.
The company has a market capitalization of $2.21 billion, a P/E ratio of -12.35 and a beta of 2.17.
TRADEMARK VIOLATION NOTICE: This piece of content was originally published by Watch List News and is the property of of Watch List News. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this piece of content can be accessed at https://www.watchlistnews.com/zogenix-zgnx-shares-gap-down-on-analyst-downgrade/2953268.html.
Zogenix Company Profile (NASDAQ:ZGNX)
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.
Featured Article: Certificate of Deposit (CD) For Risk Adverse Investors?
Receive News & Ratings for Zogenix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zogenix and related companies with MarketBeat.com's FREE daily email newsletter.