Zogenix, Inc. (NASDAQ:ZGNX) has received an average recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $24.75.
Several equities research analysts recently issued reports on the company. BidaskClub cut Zogenix from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research cut Zogenix from a “hold” rating to a “sell” rating in a report on Saturday. ValuEngine cut Zogenix from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $26.00 price objective on shares of Zogenix in a report on Monday, June 26th.
In related news, major shareholder Life Sciences Maste Perceptive bought 175,653 shares of the 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 acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Zogenix during the second quarter valued at $100,000. American International Group Inc. boosted its position in shares of 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 bought a new position in shares of Zogenix during the first quarter valued at $172,000. Stifel Financial Corp purchased a new stake in Zogenix during the second quarter valued at approximately $175,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in Zogenix during the first quarter valued at approximately $185,000. Institutional investors and hedge funds own 87.55% of the company’s stock.
Zogenix (ZGNX) traded up 0.7135% during trading on Friday, hitting $11.5317. The stock had a trading volume of 85,080 shares. The company’s market cap is $286.46 million. Zogenix has a 52-week low of $7.50 and a 52-week high of $15.40. The firm’s 50-day moving average price is $13.22 and its 200-day moving average price is $11.85.
Zogenix (NASDAQ:ZGNX) last posted its quarterly earnings data 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 return on equity of 70.75% and a negative net margin of 309.76%. The firm had revenue of $7.10 million during the quarter, compared to analyst estimates of $3.48 million. During the same quarter in the previous year, the firm posted ($0.76) earnings per share. The company’s quarterly revenue was up 238.1% on a year-over-year basis. Analysts predict that Zogenix will post ($3.63) EPS for the current fiscal 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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