Q3 2017 Earnings Forecast for Zogenix, Inc. Issued By Leerink Swann (ZGNX)
Zogenix, Inc. (NASDAQ:ZGNX) – Investment analysts at Leerink Swann raised their Q3 2017 earnings per share (EPS) estimates for shares of Zogenix in a report issued on Wednesday. Leerink Swann analyst P. Matteis now expects that the company will post earnings of ($0.93) per share for the quarter, up from their prior forecast of ($0.99). Leerink Swann currently has a “Outperform” rating and a $50.00 target price on the stock. Leerink Swann also issued estimates for Zogenix’s Q4 2017 earnings at ($0.81) EPS, FY2017 earnings at ($3.46) EPS and FY2018 earnings at ($3.38) EPS.
Zogenix (NASDAQ:ZGNX) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.89) by ($0.01). Zogenix had a negative net margin of 309.76% and a negative return on equity of 70.75%. The business had revenue of $7.10 million during the quarter, compared to the consensus estimate of $3.48 million. During the same quarter in the previous year, the business posted ($0.76) EPS. The company’s revenue for the quarter was up 238.1% on a year-over-year basis.
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A number of other equities research analysts also recently issued reports on ZGNX. BidaskClub downgraded 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 report on Saturday, August 12th. Mizuho reiterated a “buy” rating and issued a $51.00 price objective (up previously from $28.00) on shares of Zogenix in a research report on Friday, September 29th. Zacks Investment Research downgraded Zogenix from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, William Blair upgraded Zogenix from a “market perform” rating to an “outperform” rating in a research report on Friday, September 29th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $40.00.
Zogenix (NASDAQ:ZGNX) opened at 38.30 on Friday. The stock has a 50 day moving average price of $17.73 and a 200 day moving average price of $13.83. The company’s market cap is $951.41 million. Zogenix has a 52 week low of $7.50 and a 52 week high of $41.65.
In other news, major shareholder Life Sciences Maste Perceptive bought 300,000 shares of Zogenix stock in a transaction that occurred on Tuesday, October 3rd. The shares were acquired at an average price of $37.50 per share, with a total value of $11,250,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.00% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC increased its stake in Zogenix by 0.9% in the second quarter. TIAA CREF Investment Management LLC now owns 66,610 shares of the company’s stock valued at $966,000 after acquiring an additional 608 shares during the last quarter. American International Group Inc. grew its stake in shares of Zogenix by 7.1% during the first quarter. American International Group Inc. now owns 15,278 shares of the company’s stock valued at $166,000 after buying an additional 1,010 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Zogenix by 13.5% during the second quarter. Voya Investment Management LLC now owns 14,147 shares of the company’s stock valued at $205,000 after buying an additional 1,686 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Zogenix by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 105,926 shares of the company’s stock valued at $1,536,000 after buying an additional 2,467 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Zogenix by 16.3% during the second quarter. Alliancebernstein L.P. now owns 17,812 shares of the company’s stock valued at $258,000 after buying an additional 2,500 shares during the last quarter. 87.21% of the stock is currently owned by institutional investors and hedge funds.
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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