Zogenix (ZGNX) Upgraded at BidaskClub

BidaskClub upgraded shares of Zogenix (NASDAQ:ZGNX) from a hold rating to a buy rating in a report released on Friday, December 29th.

Other equities research analysts also recently issued reports about the stock. JMP Securities began coverage on shares of Zogenix in a report on Monday, November 27th. They set an outperform rating and a $56.00 price objective on the stock. Mizuho reaffirmed a buy rating and set a $51.00 price objective on shares of Zogenix in a report on Thursday, December 7th. Leerink Swann reaffirmed an outperform rating and set a $50.00 price objective (up from $20.00) on shares of Zogenix in a report on Monday, October 2nd. William Blair raised shares of Zogenix from a market perform rating to an outperform rating in a report on Friday, September 29th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $55.00 price objective (up from $26.00) on shares of Zogenix in a report on Friday, September 29th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $42.67.

Shares of Zogenix (NASDAQ:ZGNX) opened at $37.75 on Friday. The company has a market cap of $1,190.00, a PE ratio of -8.60 and a beta of 1.96. Zogenix has a fifty-two week low of $7.70 and a fifty-two week high of $43.35. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.23.

In other news, Director Roger Hawley sold 11,797 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $37.02, for a total transaction of $436,724.94. Following the sale, the director now directly owns 105,575 shares in the company, valued at $3,908,386.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Bradley S. Galer purchased 1,346 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were bought at an average price of $36.59 per share, for a total transaction of $49,250.14. The disclosure for this purchase can be found here. Corporate insiders own 5.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in ZGNX. TIAA CREF Investment Management LLC increased its position in shares of Zogenix by 0.9% in the second quarter. TIAA CREF Investment Management LLC now owns 66,610 shares of the company’s stock worth $966,000 after purchasing an additional 608 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Zogenix by 13.5% in the second quarter. Voya Investment Management LLC now owns 14,147 shares of the company’s stock worth $205,000 after purchasing an additional 1,686 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Zogenix by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 105,926 shares of the company’s stock worth $1,536,000 after purchasing an additional 2,467 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Zogenix by 16.3% in the second quarter. Alliancebernstein L.P. now owns 17,812 shares of the company’s stock worth $258,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Zogenix by 6.9% in the second quarter. Teachers Advisors LLC now owns 44,555 shares of the company’s stock worth $646,000 after purchasing an additional 2,876 shares during the last quarter. Hedge funds and other institutional investors own 73.43% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Zogenix (ZGNX) Upgraded at BidaskClub” was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another domain, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this article can be accessed at https://www.dispatchtribunal.com/2018/01/14/zogenix-zgnx-upgraded-to-buy-at-bidaskclub.html.

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.

Analyst Recommendations for Zogenix (NASDAQ:ZGNX)

Receive News & Ratings for Zogenix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zogenix and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply