BidaskClub upgraded shares of Zogenix (NASDAQ:ZGNX) from a hold rating to a buy rating in a research note published on Saturday.
Several other research analysts have also recently weighed in on ZGNX. Mizuho reaffirmed a buy rating and set a $51.00 price objective on shares of Zogenix in a research report on Wednesday, November 8th. JMP Securities started coverage on Zogenix in a research report on Monday, November 27th. They set an outperform rating and a $56.00 price objective for the company. Zacks Investment Research raised Zogenix from a sell rating to a hold rating in a research report on Saturday, January 27th. Finally, ValuEngine raised Zogenix from a sell rating to a hold rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $42.67.
Zogenix (NASDAQ ZGNX) opened at $38.10 on Friday. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1,200.00, a PE ratio of -8.68 and a beta of 1.78. Zogenix has a 52-week low of $8.50 and a 52-week high of $43.35.
In related news, EVP Bradley S. Galer purchased 1,346 shares of Zogenix stock in a transaction that occurred on Wednesday, December 13th. The stock was purchased at an average cost of $36.59 per share, with a total value of $49,250.14. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger Hawley sold 11,797 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $37.02, for a total value of $436,724.94. Following the transaction, the director now directly owns 105,575 shares of the company’s stock, valued at $3,908,386.50. The disclosure for this sale can be found here. Corporate insiders own 6.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ZGNX. Eagle Asset Management Inc. acquired a new position in Zogenix during the fourth quarter valued at approximately $39,750,000. VHCP Management II LLC acquired a new position in Zogenix during the third quarter valued at approximately $31,792,000. Carillon Tower Advisers Inc. acquired a new position in Zogenix during the fourth quarter valued at approximately $27,776,000. BlackRock Inc. boosted its position in Zogenix by 30.6% during the fourth quarter. BlackRock Inc. now owns 2,656,444 shares of the company’s stock valued at $106,389,000 after purchasing an additional 622,668 shares during the last quarter. Finally, Broadfin Capital LLC acquired a new position in Zogenix during the second quarter valued at approximately $3,806,000. 73.47% of the stock is owned by hedge funds and other institutional investors.
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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.
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