California State Teachers Retirement System reduced its position in Zogenix, Inc. (NASDAQ:ZGNX) by 8.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,135 shares of the company’s stock after selling 3,824 shares during the period. California State Teachers Retirement System owned 0.12% of Zogenix worth $1,407,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. OxFORD Asset Management LLP purchased a new stake in shares of Zogenix in the third quarter worth about $3,779,000. Sphera Funds Management LTD. purchased a new stake in shares of Zogenix in the third quarter worth about $5,082,000. EAM Investors LLC purchased a new stake in shares of Zogenix in the third quarter worth about $4,701,000. Bank of New York Mellon Corp lifted its position in shares of Zogenix by 25.4% in the third quarter. Bank of New York Mellon Corp now owns 132,806 shares of the company’s stock worth $4,655,000 after buying an additional 26,880 shares in the last quarter. Finally, Broadfin Capital LLC purchased a new stake in shares of Zogenix in the second quarter worth about $3,806,000. Institutional investors own 73.47% of the company’s stock.
A number of research firms recently commented on ZGNX. BidaskClub downgraded Zogenix from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Mizuho reiterated a “buy” rating and issued a $51.00 target price on shares of Zogenix in a research report on Wednesday, November 8th. JMP Securities initiated coverage on Zogenix in a research report on Monday, November 27th. They set an “outperform” rating and a $56.00 price objective on the stock. Zacks Investment Research upgraded Zogenix from a “sell” rating to a “hold” rating in a research report on Saturday, January 27th. Finally, ValuEngine upgraded Zogenix from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Zogenix currently has a consensus rating of “Buy” and an average price target of $42.67.
In other news, Director Roger Hawley sold 63,203 shares of the company’s 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 of the company’s stock, valued at $3,889,383. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bradley S. Galer bought 1,346 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were acquired at an average cost 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 6.60% of the company’s stock.
Shares of Zogenix, Inc. (NASDAQ:ZGNX) traded up $0.90 during mid-day trading on Wednesday, reaching $38.95. The company’s stock had a trading volume of 526,836 shares, compared to its average volume of 669,204. Zogenix, Inc. has a fifty-two week low of $8.50 and a fifty-two week 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 stock has a market capitalization of $1,330.00, a P/E ratio of -8.87 and a beta of 1.78.
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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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