Leerink Swann Comments on Zogenix, Inc.’s Q1 2018 Earnings (ZGNX)
Zogenix, Inc. (NASDAQ:ZGNX) – Investment analysts at Leerink Swann lifted their Q1 2018 earnings per share (EPS) estimates for shares of Zogenix in a report released on Wednesday. Leerink Swann analyst G. Porges now forecasts that the company will earn ($0.66) per share for the quarter, up from their previous forecast of ($0.77). Leerink Swann has a “Outperform” rating on the stock. Leerink Swann also issued estimates for Zogenix’s Q2 2018 earnings at ($0.70) EPS, Q3 2018 earnings at ($0.72) EPS, Q4 2018 earnings at ($0.74) EPS, FY2018 earnings at ($2.97) EPS and FY2019 earnings at ($1.35) EPS.
Several other analysts also recently weighed in on ZGNX. Mizuho reissued a “buy” rating and issued a $51.00 target price on shares of Zogenix in a report on Wednesday. ValuEngine raised Zogenix from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. BidaskClub raised Zogenix from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. JMP Securities began coverage on Zogenix in a report on Monday, November 27th. They issued an “outperform” rating and a $56.00 target price for the company. Finally, Zacks Investment Research raised Zogenix from a “sell” rating to a “hold” rating in a report on Saturday, January 27th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $43.33.
Zogenix (NASDAQ:ZGNX) last posted its earnings results on Tuesday, March 6th. The company reported ($1.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by ($0.17). Zogenix had a negative net margin of 309.76% and a negative return on equity of 81.65%. During the same period in the previous year, the company earned ($0.95) earnings per share.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Perceptive Advisors LLC raised its stake in Zogenix by 8.2% during the 4th quarter. Perceptive Advisors LLC now owns 3,970,357 shares of the company’s stock valued at $160,799,000 after acquiring an additional 300,000 shares during the last quarter. BlackRock Inc. raised its stake in Zogenix by 30.6% during the 4th quarter. BlackRock Inc. now owns 2,656,444 shares of the company’s stock valued at $106,389,000 after acquiring an additional 622,668 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Zogenix by 29.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,211,793 shares of the company’s stock valued at $48,532,000 after acquiring an additional 277,214 shares during the last quarter. Deutsche Bank AG increased its position in Zogenix by 59.5% during the 4th quarter. Deutsche Bank AG now owns 1,036,964 shares of the company’s stock worth $41,529,000 after purchasing an additional 386,867 shares during the period. Finally, Eagle Asset Management Inc. acquired a new position in Zogenix during the 4th quarter worth approximately $39,750,000.
In related news, EVP Bradley S. Galer acquired 1,346 shares of Zogenix stock in a transaction on Wednesday, December 13th. The stock was purchased at an average cost of $36.59 per share, with a total value of $49,250.14. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Roger Hawley sold 63,203 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $36.84, for a total value of $2,328,398.52. Following the sale, the director now directly owns 105,575 shares of the company’s stock, valued at $3,889,383. The disclosure for this sale can be found here. 5.00% of the stock is owned by corporate insiders.
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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