Shares of Zogenix, Inc. (NASDAQ:ZGNX) have received a consensus rating of “Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $23.00.
ZGNX has been the subject of a number of research reports. BidaskClub cut shares of Zogenix from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research raised shares of Zogenix from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Friday, July 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 target price on shares of Zogenix in a report on Monday, June 26th.
In other news, major shareholder Life Sciences Maste Perceptive purchased 175,653 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were acquired at an average cost of $14.45 per share, for a total transaction of $2,538,185.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Perceptive Advisors LLC raised its position in shares of Zogenix by 192.6% in the first quarter. Perceptive Advisors LLC now owns 2,203,302 shares of the company’s stock worth $23,906,000 after buying an additional 1,450,303 shares during the period. Kennedy Capital Management Inc. raised its position in shares of Zogenix by 44.9% in the first quarter. Kennedy Capital Management Inc. now owns 1,052,990 shares of the company’s stock valued at $11,425,000 after buying an additional 326,196 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Zogenix by 89.4% in the first quarter. Dimensional Fund Advisors LP now owns 410,641 shares of the company’s stock valued at $4,455,000 after buying an additional 193,827 shares during the last quarter. Sphera Funds Management LTD. bought a new position in shares of Zogenix during the first quarter valued at $1,085,000. Finally, Candriam Luxembourg S.C.A. raised its position in shares of Zogenix by 62.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 243,000 shares of the company’s stock valued at $2,637,000 after buying an additional 93,000 shares during the last quarter. Institutional investors and hedge funds own 87.11% of the company’s stock.
Zogenix (ZGNX) opened at 12.45 on Wednesday. The company’s market cap is $308.92 million. Zogenix has a 1-year low of $7.50 and a 1-year high of $15.40. The stock’s 50 day moving average price is $14.23 and its 200-day moving average price is $11.65.
Zogenix (NASDAQ:ZGNX) last announced its earnings results on Thursday, May 4th. The company reported ($0.85) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.03. Zogenix had a negative net margin of 360.89% and a negative return on equity of 57.74%. The business had revenue of $2.70 million during the quarter, compared to analysts’ expectations of $4.23 million. During the same period in the prior year, the company earned ($0.42) earnings per share. The business’s revenue was down 70.7% compared to the same quarter last year. On average, analysts forecast that Zogenix will post ($3.63) earnings per share for the current year.
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.
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