Zogenix, Inc. (ZGNX) Upgraded to “Outperform” by William Blair
William Blair upgraded shares of Zogenix, Inc. (NASDAQ:ZGNX) from a market perform rating to an outperform rating in a research report released on Friday, MarketBeat.com reports. William Blair also issued estimates for Zogenix’s Q1 2018 earnings at ($0.87) EPS, Q2 2018 earnings at ($0.85) EPS, Q3 2018 earnings at ($0.90) EPS and Q4 2018 earnings at ($0.93) EPS.
A number of other analysts also recently commented on ZGNX. Mizuho started coverage on shares of Zogenix in a report on Wednesday, September 6th. They issued a buy rating and a $28.00 price objective for the company. Stifel Nicolaus reissued a buy rating and issued a $26.00 target price on shares of Zogenix in a research note on Monday, June 26th. ValuEngine cut Zogenix from a hold rating to a sell rating in a report on Friday, September 1st. Zacks Investment Research upgraded Zogenix from a sell rating to a hold rating in a report on Friday, September 1st. Finally, BidaskClub cut Zogenix from a strong-buy rating to a buy rating in a report on Wednesday, July 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $35.40.
Zogenix (NASDAQ ZGNX) opened at 38.90 on Friday. The stock’s market capitalization is $966.32 million. Zogenix has a 52 week low of $7.50 and a 52 week high of $41.65. The firm has a 50 day moving average of $14.63 and a 200-day moving average of $13.07.
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 Thomson Reuters’ consensus estimate of ($0.89) by ($0.01). The business had revenue of $7.10 million during the quarter, compared to analysts’ expectations of $3.48 million. Zogenix had a negative return on equity of 70.75% and a negative net margin of 309.76%. The business’s quarterly revenue was up 238.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.76) earnings per share. On average, equities analysts predict that Zogenix will post ($3.65) EPS for the current year.
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Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Zogenix during the second quarter worth about $100,000. American International Group Inc. raised its stake in shares of Zogenix by 7.1% in the 1st quarter. American International Group Inc. now owns 15,278 shares of the company’s stock valued at $166,000 after acquiring an additional 1,010 shares during the period. Stifel Financial Corp purchased a new stake in shares of Zogenix in the 2nd quarter valued at approximately $175,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Zogenix in the 1st quarter valued at approximately $185,000. Finally, Nationwide Fund Advisors raised its stake in shares of Zogenix by 29.5% in the 1st quarter. Nationwide Fund Advisors now owns 18,748 shares of the company’s stock valued at $203,000 after acquiring an additional 4,266 shares during the period. 87.21% of the stock is owned by hedge funds and other 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. 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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