Zogenix, Inc. (NASDAQ:ZGNX) – Research analysts at Leerink Swann cut their FY2017 EPS estimates for Zogenix in a note issued to investors on Tuesday. Leerink Swann analyst P. Matteis now forecasts that the company will post earnings per share of ($4.17) for the year, down from their previous forecast of ($3.46). Leerink Swann currently has a “Outperform” rating and a $50.00 price target on the stock. Leerink Swann also issued estimates for Zogenix’s Q4 2017 earnings at ($0.80) EPS, Q1 2018 earnings at ($0.77) EPS, Q3 2018 earnings at ($0.74) EPS, Q4 2018 earnings at ($0.98) EPS, FY2018 earnings at ($3.09) EPS and FY2019 earnings at ($1.56) EPS.
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Several other brokerages have also commented on ZGNX. Mizuho restated a “buy” rating and issued a $51.00 price objective on shares of Zogenix in a report on Wednesday. ValuEngine upgraded shares of Zogenix from a “sell” rating to a “hold” rating in a report on Saturday, September 30th. BidaskClub lowered shares of Zogenix from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Stifel Nicolaus restated a “buy” rating and issued a $55.00 price objective (up from $26.00) on shares of Zogenix in a report on Friday, September 29th. Finally, William Blair upgraded shares of Zogenix from a “market perform” rating to an “outperform” rating in a report on Friday, September 29th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Zogenix currently has an average rating of “Buy” and a consensus price target of $40.00.
Zogenix (NASDAQ:ZGNX) opened at $39.85 on Friday. The company has a current ratio of 2.71, a quick ratio of 3.48 and a debt-to-equity ratio of 0.23. Zogenix has a fifty-two week low of $7.70 and a fifty-two week high of $42.60.
In other news, major shareholder Life Sciences Maste Perceptive acquired 222,055 shares of the company’s stock in a transaction on Friday, September 29th. The shares were bought at an average cost of $32.83 per share, with a total value of $7,290,065.65. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.00% of the company’s stock.
Several large investors have recently made changes to their positions in ZGNX. JPMorgan Chase & Co. increased its position in shares of Zogenix by 1,794.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 286,299 shares of the company’s stock valued at $4,152,000 after purchasing an additional 271,186 shares during the last quarter. Broadfin Capital LLC acquired a new position in shares of Zogenix in the 2nd quarter valued at $3,806,000. Dimensional Fund Advisors LP boosted its holdings in shares of Zogenix by 89.4% in the 1st 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 in the last quarter. Farallon Capital Management LLC acquired a new position in shares of Zogenix in the 2nd quarter valued at $2,538,000. Finally, Sphera Funds Management LTD. acquired a new position in shares of Zogenix in the 3rd quarter valued at $5,082,000. 68.50% of the stock is currently owned by institutional investors.
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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