The Manufacturers Life Insurance Company raised its holdings in shares of Zogenix, Inc. (NASDAQ:ZGNX) by 28.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,950 shares of the company’s stock after buying an additional 5,670 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of Zogenix worth $1,039,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of ZGNX. Voya Investment Management LLC lifted its holdings in shares of Zogenix by 13.5% during the second quarter. Voya Investment Management LLC now owns 14,147 shares of the company’s stock worth $205,000 after buying an additional 1,686 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Zogenix during the third quarter worth approximately $226,000. Sterling Capital Management LLC acquired a new position in shares of Zogenix during the third quarter worth approximately $237,000. Teacher Retirement System of Texas acquired a new position in shares of Zogenix during the fourth quarter worth approximately $409,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of Zogenix during the third quarter worth approximately $701,000.
Zogenix, Inc. (NASDAQ ZGNX) opened at $42.05 on Friday. The company has a market capitalization of $1,460.87, a price-to-earnings ratio of -9.06 and a beta of 1.57. Zogenix, Inc. has a 12 month low of $10.00 and a 12 month high of $45.85.
Zogenix (NASDAQ:ZGNX) last issued its earnings results on Tuesday, March 6th. The company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.17). Zogenix had a negative net margin of 309.76% and a negative return on equity of 81.65%. During the same period last year, the business earned ($0.95) earnings per share. equities research analysts forecast that Zogenix, Inc. will post -3.12 EPS for the current fiscal year.
In other Zogenix news, Director Roger Hawley sold 35,000 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $44.71, for a total transaction of $1,564,850.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.00% of the company’s stock.
A number of brokerages have recently commented on ZGNX. Zacks Investment Research upgraded Zogenix from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Thursday. Mizuho restated a “buy” rating and issued a $51.00 target price on shares of Zogenix in a research note on Wednesday, March 7th. Leerink Swann restated an “outperform” rating on shares of Zogenix in a research note on Sunday, March 4th. ValuEngine upgraded Zogenix from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, BidaskClub upgraded Zogenix from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $53.20.
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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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