Zogenix, Inc. (NASDAQ:ZGNX) fell 5.9% on Thursday . The stock traded as low as $14.00 and last traded at $14.25. 782,007 shares traded hands during mid-day trading, an increase of 104% from the average session volume of 384,055 shares. The stock had previously closed at $15.15.

Several research firms have recently weighed in on ZGNX. Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 target price on shares of Zogenix in a report on Monday, June 26th. Mizuho began coverage on shares of Zogenix in a report on Wednesday, September 6th. They issued a “buy” rating and a $28.00 target price on the stock. Zacks Investment Research raised shares of Zogenix from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Friday, July 7th. BidaskClub lowered shares of Zogenix from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, ValuEngine raised shares of Zogenix from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $23.83.

The firm has a 50 day moving average of $12.72 and a 200-day moving average of $12.41. The stock’s market cap is $360.19 million.

Zogenix (NASDAQ:ZGNX) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.90) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.89) by ($0.01). The company had revenue of $7.10 million during the quarter, compared to analyst estimates of $3.48 million. Zogenix had a negative net margin of 309.76% and a negative return on equity of 70.75%. The firm’s revenue for the quarter was up 238.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.76) EPS. On average, equities research analysts expect that Zogenix, Inc. will post ($3.69) earnings per share for the current year.

In related news, major shareholder Life Sciences Maste Perceptive purchased 175,653 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was acquired at an average price of $14.45 per share, with a total value of $2,538,185.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.00% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in Zogenix in the second quarter valued at about $100,000. American International Group Inc. raised its stake in Zogenix by 7.1% in the first quarter. American International Group Inc. now owns 15,278 shares of the company’s stock valued at $166,000 after purchasing an additional 1,010 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Zogenix in the first quarter valued at about $172,000. Stifel Financial Corp acquired a new position in Zogenix in the second quarter valued at about $175,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Zogenix in the first quarter valued at about $185,000. 87.15% of the stock is owned by institutional investors and hedge funds.

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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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