Zogenix Inc. (ZGNX) Given Outperform Rating at Leerink Swann
Zogenix Inc. (NASDAQ:ZGNX)‘s stock had its “outperform” rating reaffirmed by research analysts at Leerink Swann in a research report issued to clients and investors on Tuesday. They currently have a $17.00 price objective on the stock. Leerink Swann’s price target would indicate a potential upside of 57.55% from the stock’s previous close.
Several other research analysts have also weighed in on ZGNX. Zacks Investment Research lowered shares of Zogenix from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Brean Capital reaffirmed a “buy” rating and issued a $28.00 price target on shares of Zogenix in a report on Wednesday, September 21st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $20.50.
Shares of Zogenix (NASDAQ:ZGNX) traded down 3.57% during mid-day trading on Tuesday, hitting $10.79. 188,051 shares of the stock were exchanged. The company has a 50-day moving average of $9.57 and a 200 day moving average of $9.48. The stock’s market cap is $267.48 million. Zogenix has a one year low of $7.33 and a one year high of $16.56.
Zogenix (NASDAQ:ZGNX) last issued its earnings results on Tuesday, August 9th. The company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.05. Zogenix had a negative net margin of 192.64% and a negative return on equity of 33.62%. The company had revenue of $2.10 million for the quarter, compared to analyst estimates of $5.36 million. During the same period in the prior year, the business posted ($3.78) earnings per share. The firm’s revenue for the quarter was down 71.6% compared to the same quarter last year. On average, equities analysts predict that Zogenix will post ($3.24) earnings per share for the current year.
Several hedge funds have recently made changes to their positions in ZGNX. Landscape Capital Management L.L.C. purchased a new position in shares of Zogenix during the first quarter valued at about $1,439,000. State Street Corp increased its position in shares of Zogenix by 4.2% in the first quarter. State Street Corp now owns 383,552 shares of the company’s stock valued at $3,546,000 after buying an additional 15,446 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Zogenix by 11.7% in the first quarter. Geode Capital Management LLC now owns 153,464 shares of the company’s stock valued at $1,418,000 after buying an additional 16,093 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Zogenix by 15.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 19,892 shares of the company’s stock valued at $184,000 after buying an additional 2,671 shares during the last quarter. Finally, Opaleye Management Inc. purchased a new position in shares of Zogenix during the first quarter valued at about $2,218,000. 84.91% of the stock is currently owned by institutional investors.
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 in requirement of treatment alternatives. The Company’s areas of focus are epilepsy and schizophrenia.
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