Zacks Investment Research upgraded shares of Zogenix (NASDAQ:ZGNX) from a sell rating to a hold rating in a research report released on Saturday, January 27th.
According to Zacks, “Zogenix, Inc. is a pharmaceutical company engaged in the development and commercialization of treatment products for central nervous system disorders and pain. Its first commercial product, Sumavel DosePro is a needle-free Delivery System used in the treatment of acute migraine and cluster headache in a pre-filled, single-use delivery system. Its lead product candidate, ZX002, is a novel, oral and single-entity controlled-release formulation of hydrocodone used for the treatment of moderate to severe chronic pain in patients requiring around-the-clock opioid therapy. Zogenix, Inc. is headquartered in San Diego, CA. “
Other research analysts have also recently issued reports about the stock. ValuEngine upgraded shares of Zogenix from a sell rating to a hold rating in a report on Saturday, September 30th. Stifel Nicolaus reiterated a buy rating and issued a $55.00 target price (up from $26.00) on shares of Zogenix in a report on Friday, September 29th. BidaskClub raised shares of Zogenix from a hold rating to a buy rating in a research report on Friday, December 29th. Mizuho reissued a buy rating and issued a $51.00 price target (up from $28.00) on shares of Zogenix in a research report on Friday, September 29th. Finally, William Blair raised shares of Zogenix from a market perform rating to an outperform rating in a research report on Friday, September 29th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $42.67.
Zogenix (ZGNX) opened at $38.10 on Friday. Zogenix has a 12-month low of $8.50 and a 12-month high of $43.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.71 and a current ratio of 2.71. The firm has a market cap of $1,200.00, a PE ratio of -8.68 and a beta of 1.78.
In other Zogenix news, Director Roger Hawley sold 63,203 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $36.84, for a total transaction of $2,328,398.52. Following the transaction, the director now owns 105,575 shares in the company, valued at $3,889,383. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Bradley S. Galer purchased 1,346 shares of the stock in a transaction on 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. 6.60% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. TIAA CREF Investment Management LLC grew its stake 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 acquiring an additional 608 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Zogenix by 2.4% in the fourth quarter. California Public Employees Retirement System now owns 59,150 shares of the company’s stock worth $2,369,000 after acquiring an additional 1,400 shares during the last quarter. Voya Investment Management LLC grew its stake 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 acquiring an additional 1,686 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Zogenix by 7.5% in the fourth quarter. Rhumbline Advisers now owns 32,438 shares of the company’s stock worth $1,299,000 after acquiring an additional 2,264 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake 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 acquiring an additional 2,467 shares during the last quarter. Institutional investors and hedge funds own 73.47% of the company’s stock.
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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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