Zogenix, Inc. (NASDAQ:ZGNX)‘s stock had its “buy” rating reaffirmed by research analysts at Mizuho in a research report issued to clients and investors on Friday. They presently have a $51.00 price target on the stock, up from their prior price target of $28.00. Mizuho’s target price suggests a potential upside of 31.11% from the stock’s previous close.

The analysts wrote, “We view the readout as impressive, but expect in real world application, a small percentage (~10-15%) of patients may not tolerate the therapy well. We further believe ZX-008 has better efficacy than GW Pharma’s competing drug, Epidiolex (GWPH, non-rated) NDA filing expected 2H2018. Zogenix’s pivotal phase III program for ZX008 is in DS comprises Study 1 and 1504. Data from both trials will be used in the NDA registration for the US.””

A number of other research analysts also recently commented on the company. Zacks Investment Research downgraded Zogenix from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. BidaskClub lowered Zogenix from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. ValuEngine downgraded Zogenix from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 price target on shares of Zogenix in a research note on Monday, June 26th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $35.40.

Shares of Zogenix (ZGNX) traded up 2.44% on Friday, reaching $39.85. 4,199,269 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $14.63 and its 200-day moving average price is $13.07. The company’s market capitalization is $989.91 million. Zogenix has a 12 month low of $7.50 and a 12 month high of $41.65.

Zogenix (NASDAQ:ZGNX) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.90) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.89) by ($0.01). Zogenix had a negative return on equity of 70.75% and a negative net margin of 309.76%. The company had revenue of $7.10 million during the quarter, compared to analyst estimates of $3.48 million. During the same period last year, the company posted ($0.76) earnings per share. The company’s revenue was up 238.1% compared to the same quarter last year. On average, equities analysts anticipate that Zogenix will post ($3.65) EPS for the current year.

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In other Zogenix news, major shareholder Life Sciences Maste Perceptive acquired 222,055 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was purchased at an average cost of $32.83 per share, for a total transaction of $7,290,065.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.00% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in Zogenix during the second quarter valued at about $100,000. American International Group Inc. lifted its position in shares of Zogenix by 7.1% in the first quarter. American International Group Inc. now owns 15,278 shares of the company’s stock worth $166,000 after buying an additional 1,010 shares during the last quarter. Stifel Financial Corp acquired a new stake in shares of Zogenix in the second quarter worth about $175,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Zogenix in the first quarter worth about $185,000. Finally, Nationwide Fund Advisors lifted its position in shares of Zogenix by 29.5% in the first quarter. Nationwide Fund Advisors now owns 18,748 shares of the company’s stock worth $203,000 after buying an additional 4,266 shares during the last quarter. 87.21% of the stock is currently owned by hedge funds and other institutional investors.

About Zogenix

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.

Analyst Recommendations for Zogenix (NASDAQ:ZGNX)

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