Zogenix, Inc. (NASDAQ:ZGNX) Upgraded at BidaskClub

BidaskClub upgraded shares of Zogenix, Inc. (NASDAQ:ZGNX) from a sell rating to a hold rating in a research report released on Saturday morning.

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A number of other research firms have also recently weighed in on ZGNX. Stifel Nicolaus reaffirmed a buy rating and set a $26.00 price target on shares of Zogenix in a research note on Monday, June 26th. Zacks Investment Research raised shares of Zogenix from a hold rating to a buy rating and set a $16.00 price target on the stock in a research note on Friday, July 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $23.00.

Zogenix (NASDAQ:ZGNX) opened at 13.00 on Friday. The firm’s 50-day moving average is $14.08 and its 200 day moving average is $11.66. The stock’s market capitalization is $322.57 million. Zogenix has a 12-month low of $7.50 and a 12-month high of $15.40.

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In other Zogenix news, major shareholder Life Sciences Maste Perceptive acquired 175,653 shares of the firm’s stock in a transaction that occurred on 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.00% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Zogenix during the second quarter valued at approximately $100,000. American International Group Inc. raised its stake in Zogenix by 7.1% in 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 in the last quarter. Acadian Asset Management LLC acquired a new stake in Zogenix during the first quarter valued at approximately $172,000. Oppenheimer & Co. Inc. acquired a new stake in Zogenix during the first quarter valued at approximately $185,000. Finally, Nationwide Fund Advisors raised its stake in Zogenix by 29.5% in the first quarter. Nationwide Fund Advisors now owns 18,748 shares of the company’s stock valued at $203,000 after buying an additional 4,266 shares in the last quarter. Institutional investors and hedge funds own 87.29% of the company’s stock.

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.