Advisory Research Inc. bought a new position in Zogenix, Inc. (NASDAQ:ZGNX) in the fourth quarter, HoldingsChannel reports. The fund bought 25,317 shares of the company’s stock, valued at approximately $1,014,000.
A number of other hedge funds also recently added to or reduced their stakes in the business. Stifel Financial Corp bought a new position in shares of Zogenix during the 2nd quarter valued at $175,000. Voya Investment Management LLC raised its holdings in shares of Zogenix by 13.5% during the 2nd quarter. Voya Investment Management LLC now owns 14,147 shares of the company’s stock valued at $205,000 after purchasing an additional 1,686 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Zogenix in the 3rd quarter valued at $226,000. GSA Capital Partners LLP acquired a new position in Zogenix in the 2nd quarter valued at $231,000. Finally, Sterling Capital Management LLC acquired a new position in Zogenix in the 3rd quarter valued at $237,000. Institutional investors own 73.47% of the company’s stock.
Shares of Zogenix, Inc. (ZGNX) opened at $41.25 on Monday. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1,412.89, a price-to-earnings ratio of -9.33 and a beta of 1.79. Zogenix, Inc. has a 12-month low of $8.50 and a 12-month high of $43.35.
A number of research analysts recently issued reports on the stock. BidaskClub upgraded shares of Zogenix from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. ValuEngine upgraded shares of Zogenix from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Mizuho reiterated a “buy” rating and issued a $51.00 target price on shares of Zogenix in a research note on Thursday, February 1st. Zacks Investment Research upgraded shares of Zogenix from a “sell” rating to a “hold” rating in a research note on Saturday, January 27th. Finally, JMP Securities assumed coverage on shares of Zogenix in a research note on Monday, November 27th. They issued an “outperform” rating and a $56.00 target price on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Zogenix currently has an average rating of “Buy” and a consensus price target of $42.67.
In related news, EVP Bradley S. Galer purchased 1,346 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were bought at an average cost of $36.59 per share, for a total transaction of $49,250.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roger Hawley sold 63,203 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 105,575 shares in the company, valued at $3,889,383. The disclosure for this sale can be found here. Company insiders own 5.00% 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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