Shares of Zogenix, Inc. (NASDAQ:ZGNX) have earned a consensus recommendation of “Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $69.56.
Several equities research analysts have recently weighed in on ZGNX shares. LADENBURG THALM/SH SH started coverage on Zogenix in a report on Thursday, August 23rd. They issued a “buy” rating and a $71.00 price target on the stock. Bank of America started coverage on Zogenix in a report on Friday, September 14th. They issued a “buy” rating and a $63.00 price target on the stock. Leerink Swann set a $93.00 price target on Zogenix and gave the stock a “buy” rating in a report on Saturday, October 6th. B. Riley started coverage on Zogenix in a report on Friday, September 7th. They issued a “buy” rating and a $116.00 price target on the stock. Finally, Mizuho reiterated a “buy” rating and issued a $69.00 price target on shares of Zogenix in a report on Friday, August 24th.
Shares of NASDAQ ZGNX opened at $43.45 on Tuesday. Zogenix has a fifty-two week low of $32.40 and a fifty-two week high of $62.75. The company has a market capitalization of $1.57 billion, a PE ratio of -10.81 and a beta of 1.86.
Zogenix (NASDAQ:ZGNX) last issued its quarterly earnings results on Monday, August 6th. The company reported ($0.82) earnings per share for the quarter, topping the consensus estimate of ($0.88) by $0.06. During the same period in the previous year, the company earned ($0.90) earnings per share. As a group, research analysts anticipate that Zogenix will post -3.66 EPS for the current year.
In other news, major shareholder Life Sciences Maste Perceptive acquired 100,000 shares of Zogenix stock in a transaction on Friday, August 10th. The shares were bought at an average cost of $52.00 per share, for a total transaction of $5,200,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gail M. Farfel sold 6,961 shares of the firm’s stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $43.23, for a total value of $300,924.03. Following the transaction, the executive vice president now owns 14,104 shares in the company, valued at $609,715.92. The disclosure for this sale can be found here. Insiders have sold a total of 20,961 shares of company stock worth $1,002,324 over the last 90 days. 4.60% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vident Investment Advisory LLC increased its holdings in Zogenix by 10.1% during the 2nd quarter. Vident Investment Advisory LLC now owns 13,633 shares of the company’s stock worth $603,000 after purchasing an additional 1,256 shares during the period. Wells Fargo & Company MN increased its holdings in Zogenix by 4.0% during the 3rd quarter. Wells Fargo & Company MN now owns 35,403 shares of the company’s stock worth $1,755,000 after purchasing an additional 1,355 shares during the period. BlueMountain Capital Management LLC purchased a new position in Zogenix during the 2nd quarter worth $104,000. Rhumbline Advisers increased its holdings in Zogenix by 6.9% during the 2nd quarter. Rhumbline Advisers now owns 36,465 shares of the company’s stock worth $1,612,000 after purchasing an additional 2,368 shares during the period. Finally, FNY Investment Advisers LLC increased its holdings in Zogenix by 3,900.0% during the 3rd quarter. FNY Investment Advisers LLC now owns 3,000 shares of the company’s stock worth $148,000 after purchasing an additional 2,925 shares during the period.
Zogenix, Inc, a pharmaceutical company, develops and commercializes therapies for the treatment of central nervous system disorders in the United States. Its lead product candidate is the ZX008, a low-dose fenfluramine, which is in Phase III clinical trials for the treatment of seizures associated with Dravet syndrome.
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