Zogenix, Inc. (ZGNX) Rating Reiterated by Leerink Swann
Zogenix, Inc. (NASDAQ:ZGNX)‘s stock had its “outperform” rating reissued by research analysts at Leerink Swann in a note issued to investors on Monday. They presently have a $50.00 target price on the stock, up from their previous target price of $20.00. Leerink Swann’s price objective suggests a potential upside of 27.55% from the company’s current price.
Other analysts also recently issued reports about the company. BidaskClub upgraded Zogenix from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Mizuho initiated coverage on Zogenix in a research note on Wednesday, September 6th. They issued a “buy” rating and a $28.00 price objective on the stock. ValuEngine raised Zogenix from a “sell” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus restated a “buy” rating and set a $26.00 target price on shares of Zogenix in a research report on Monday, June 26th. Finally, Zacks Investment Research upgraded Zogenix from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Friday, July 7th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Zogenix presently has an average rating of “Buy” and an average target price of $40.00.
Zogenix (NASDAQ:ZGNX) traded up 0.90% during midday trading on Monday, hitting $39.20. The stock had a trading volume of 2,432,662 shares. The stock’s market capitalization is $973.77 million. Zogenix has a 52 week low of $7.50 and a 52 week high of $41.65. The company’s 50 day moving average price is $15.41 and its 200-day moving average price is $13.27.
Zogenix (NASDAQ:ZGNX) last released its earnings results on Tuesday, August 8th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.01). The firm 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%. Zogenix’s quarterly revenue was up 238.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.76) EPS. Equities analysts anticipate that Zogenix will post ($3.66) earnings per share for the current fiscal year.
In related news, major shareholder Life Sciences Maste Perceptive purchased 300,000 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was purchased at an average cost of $37.50 per share, with a total value of $11,250,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.00% of the company’s stock.
Several large investors have recently modified their holdings of ZGNX. Nationwide Fund Advisors raised its position in shares of Zogenix by 29.5% during the first quarter. Nationwide Fund Advisors now owns 18,748 shares of the company’s stock worth $203,000 after purchasing an additional 4,266 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Zogenix by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 103,459 shares of the company’s stock worth $1,123,000 after purchasing an additional 4,583 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Zogenix by 43.6% in the 1st quarter. Ameriprise Financial Inc. now owns 229,134 shares of the company’s stock worth $2,486,000 after purchasing an additional 69,552 shares in the last quarter. American International Group Inc. grew its position in 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 purchasing an additional 1,010 shares during the period. Finally, California Public Employees Retirement System grew its position in Zogenix by 100.0% in the 1st quarter. California Public Employees Retirement System now owns 115,500 shares of the company’s stock valued at $1,329,000 after purchasing an additional 57,750 shares during the period. 87.21% 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. 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.
Receive News & Stock Ratings for Zogenix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zogenix Inc. and related stocks with our FREE daily email newsletter.