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.

A number of large investors have recently added to or reduced their stakes in ZGNX. Wells Fargo & Company MN increased its stake in Zogenix by 4.0% during the 3rd quarter. Wells Fargo & Company MN now owns 35,403 shares of the company’s stock valued at $1,755,000 after purchasing an additional 1,355 shares in the last quarter. SG Americas Securities LLC bought a new stake in Zogenix during the 3rd quarter valued at about $109,000. JPMorgan Chase & Co. increased its stake in Zogenix by 53.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 75,721 shares of the company’s stock valued at $3,756,000 after purchasing an additional 26,445 shares in the last quarter. Prudential Financial Inc. bought a new stake in Zogenix during the 3rd quarter valued at about $219,000. Finally, Rhumbline Advisers grew its stake in shares of Zogenix by 7.2% in the third quarter. Rhumbline Advisers now owns 39,104 shares of the company’s stock worth $1,940,000 after acquiring an additional 2,639 shares during the period.

The company has a market capitalization of $2.21 billion, a P/E ratio of -12.35 and a beta of 2.17.

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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.

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