First Trust Advisors LP lowered its stake in shares of Zogenix, Inc. (NASDAQ:ZGNX) by 11.3% during the third quarter, Holdings Channel reports. The fund owned 25,936 shares of the company’s stock after selling 3,304 shares during the period. First Trust Advisors LP’s holdings in Zogenix were worth $1,286,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the business. Fox Run Management L.L.C. acquired a new stake in shares of Zogenix in the third quarter valued at approximately $366,000. Rhenman & Partners Asset Management AB raised its holdings in shares of Zogenix by 20.0% in the third quarter. Rhenman & Partners Asset Management AB now owns 60,000 shares of the company’s stock valued at $2,976,000 after purchasing an additional 10,000 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Zogenix by 5.5% in the second quarter. Northern Trust Corp now owns 468,074 shares of the company’s stock valued at $20,689,000 after purchasing an additional 24,338 shares during the last quarter. 683 Capital Management LLC acquired a new stake in shares of Zogenix in the second quarter valued at approximately $2,210,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Zogenix by 761.1% in the second quarter. Bank of New York Mellon Corp now owns 1,534,645 shares of the company’s stock valued at $67,831,000 after purchasing an additional 1,356,428 shares during the last quarter.
In related news, EVP Gail M. Farfel sold 6,961 shares of the firm’s stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $43.23, for a total value of $300,924.03. Following the completion of the transaction, the executive vice president now directly owns 14,104 shares of the company’s stock, valued at $609,715.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Erle T. Mast sold 1,468 shares of the firm’s stock in a transaction on Monday, November 26th. The shares were sold at an average price of $42.08, for a total transaction of $61,773.44. Following the completion of the transaction, the director now directly owns 3,027 shares of the company’s stock, valued at $127,376.16. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by company insiders.
NASDAQ:ZGNX opened at $42.55 on Friday. Zogenix, Inc. has a 1-year low of $33.42 and a 1-year high of $62.75. The firm has a market capitalization of $1.84 billion, a P/E ratio of -10.58 and a beta of 1.84.
Zogenix (NASDAQ:ZGNX) last released its earnings results on Thursday, November 8th. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.20). During the same quarter last year, the company earned ($1.68) EPS. On average, research analysts anticipate that Zogenix, Inc. will post -3.84 EPS for the current fiscal year.
ZGNX has been the topic of a number of recent research reports. BidaskClub downgraded shares of Zogenix from a “hold” rating to a “sell” rating in a report on Friday, August 17th. Leerink Swann reiterated an “outperform” rating on shares of Zogenix in a report on Friday, October 19th. Mizuho reiterated a “buy” rating and issued a $69.00 price objective on shares of Zogenix in a report on Friday, August 24th. Bank of America initiated coverage on shares of Zogenix in a report on Friday, September 14th. They issued a “buy” rating and a $63.00 price objective on the stock. Finally, Piper Jaffray Companies initiated coverage on shares of Zogenix in a report on Monday, November 5th. They issued an “overweight” rating on the stock. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $70.00.
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Zogenix Company Profile
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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