VHCP Management II LLC acquired a new position in Zogenix, Inc. (NASDAQ:ZGNX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 907,057 shares of the company’s stock, valued at approximately $31,792,000. Zogenix accounts for 8.8% of VHCP Management II LLC’s holdings, making the stock its 4th biggest position. VHCP Management II LLC owned approximately 2.65% of Zogenix at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY lifted its stake in shares of Zogenix by 17.0% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 19,734 shares of the company’s stock valued at $214,000 after purchasing an additional 2,864 shares during the period. JPMorgan Chase & Co. lifted its stake 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 period. Geode Capital Management LLC lifted its stake in shares of Zogenix by 12.8% in the 1st quarter. Geode Capital Management LLC now owns 196,793 shares of the company’s stock valued at $2,135,000 after purchasing an additional 22,407 shares during the period. Vanguard Group Inc. lifted its stake in shares of Zogenix by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 974,948 shares of the company’s stock valued at $10,578,000 after purchasing an additional 70,617 shares during the period. Finally, Nationwide Fund Advisors lifted its stake in shares of Zogenix by 367.3% in the 2nd quarter. Nationwide Fund Advisors now owns 87,611 shares of the company’s stock valued at $1,270,000 after purchasing an additional 68,863 shares during the period. Institutional investors and hedge funds own 73.43% of the company’s stock.
In related news, major shareholder Life Sciences Maste Perceptive acquired 300,000 shares of Zogenix stock in a transaction that occurred on Tuesday, October 3rd. The stock was bought at an average price of $37.50 per share, with a total value of $11,250,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 6.60% of the stock is owned by company insiders.
Zogenix, Inc. (ZGNX) opened at $34.53 on Tuesday. Zogenix, Inc. has a 52-week low of $7.70 and a 52-week high of $42.60. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.71 and a quick ratio of 2.71.
ZGNX has been the subject of a number of research analyst reports. Mizuho restated a “buy” rating and issued a $51.00 target price (up previously from $28.00) on shares of Zogenix in a research note on Friday, September 29th. Stifel Nicolaus restated a “buy” rating and issued a $55.00 target price (up previously from $26.00) on shares of Zogenix in a research note on Friday, September 29th. Zacks Investment Research upgraded Zogenix from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. ValuEngine upgraded Zogenix from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, BidaskClub upgraded Zogenix from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $42.67.
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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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