Leerink Swann Comments on Zogenix Inc.’s Q3 2016 Earnings (ZGNX)
Zogenix Inc. (NASDAQ:ZGNX) – Research analysts at Leerink Swann issued their Q3 2016 earnings per share estimates for Zogenix in a report released on Tuesday. Leerink Swann analyst P. Matteis anticipates that the firm will earn ($0.99) per share for the quarter. Leerink Swann has a “Outperform” rating and a $17.00 price objective on the stock. Leerink Swann also issued estimates for Zogenix’s Q4 2016 earnings at ($1.12) EPS, FY2016 earnings at ($3.25) EPS, FY2017 earnings at ($3.76) EPS and FY2018 earnings at ($2.26) EPS.
A number of other research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Zogenix from a “sell” rating to a “hold” rating in a research note on Saturday, August 13th. Brean Capital reiterated a “buy” rating and issued a $28.00 price target on shares of Zogenix in a research note on Wednesday, September 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $20.50.
Zogenix (NASDAQ:ZGNX) traded down 1.59% during trading on Thursday, hitting $10.54. The stock had a trading volume of 44,868 shares. The firm’s market cap is $261.29 million. Zogenix has a one year low of $7.33 and a one year high of $16.56. The stock’s 50-day moving average is $9.63 and its 200 day moving average is $9.51.
Zogenix (NASDAQ:ZGNX) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.05. The business earned $2.10 million during the quarter, compared to analysts’ expectations of $5.36 million. Zogenix had a negative return on equity of 33.62% and a negative net margin of 192.64%. The company’s revenue was down 71.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($3.78) EPS.
A number of institutional investors have recently modified their holdings of ZGNX. Opaleye Management Inc. bought a new position in shares of Zogenix during the first quarter valued at approximately $2,218,000. Landscape Capital Management L.L.C. bought a new position in shares of Zogenix during the first quarter valued at approximately $1,439,000. Gagnon Securities LLC bought a new position in shares of Zogenix during the second quarter valued at approximately $1,236,000. Blair William & Co. IL increased its position in shares of Zogenix by 239.1% in the second quarter. Blair William & Co. IL now owns 195,500 shares of the company’s stock valued at $529,000 after buying an additional 137,850 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Zogenix by 99.6% in the second quarter. Dimensional Fund Advisors LP now owns 69,396 shares of the company’s stock valued at $559,000 after buying an additional 34,631 shares during the last quarter. 84.91% of the stock is owned by institutional investors and hedge funds.
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 in requirement of treatment alternatives. The Company’s areas of focus are epilepsy and schizophrenia.
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