Great Point Partners LLC bought a new stake in shares of Zogenix, Inc. (NASDAQ:ZGNX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,000,000 shares of the company’s stock, valued at approximately $36,460,000. Zogenix accounts for about 4.6% of Great Point Partners LLC’s holdings, making the stock its 9th largest holding. Great Point Partners LLC owned 2.38% of Zogenix as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of ZGNX. Wells Fargo & Company MN increased its stake in Zogenix by 4.0% in the 3rd quarter. Wells Fargo & Company MN now owns 35,403 shares of the company’s stock valued at $1,755,000 after buying an additional 1,355 shares during the period. SG Americas Securities LLC acquired a new position in Zogenix in the 3rd quarter valued at approximately $109,000. JPMorgan Chase & Co. increased its stake in shares of Zogenix by 53.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 75,721 shares of the company’s stock worth $3,756,000 after purchasing an additional 26,445 shares during the last quarter. Prudential Financial Inc. acquired a new position in shares of Zogenix during the 3rd quarter worth $219,000. Finally, Rhumbline Advisers increased its stake in shares of Zogenix by 7.2% during the 3rd quarter. Rhumbline Advisers now owns 39,104 shares of the company’s stock worth $1,940,000 after purchasing an additional 2,639 shares during the last quarter.
Shares of ZGNX opened at $52.66 on Friday. Zogenix, Inc. has a 12 month low of $33.43 and a 12 month high of $62.75. The firm has a market cap of $2.29 billion, a PE ratio of -16.30 and a beta of 2.18.
ZGNX has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Zogenix from a “sell” rating to a “hold” rating in a research note on Saturday, February 2nd. BidaskClub upgraded shares of Zogenix from a “hold” rating to a “buy” rating in a research note on Wednesday, January 9th. Mizuho restated a “buy” rating and set a $69.00 price target on shares of Zogenix in a research note on Wednesday, February 6th. Finally, Northland Securities set a $70.00 price target on shares of Zogenix and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $70.00.
In related news, CEO Stephen J. Farr sold 90,313 shares of the company’s stock in a transaction on Thursday, January 10th. The shares were sold at an average price of $45.00, for a total transaction of $4,064,085.00. Following the completion of the sale, the chief executive officer now directly owns 52,259 shares of the company’s stock, valued at approximately $2,351,655. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Cam L. Garner sold 12,405 shares of the company’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $46.85, for a total transaction of $581,174.25. Following the sale, the director now directly owns 218 shares of the company’s stock, valued at $10,213.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 201,096 shares of company stock worth $9,754,936. 4.60% of the stock is currently owned by company insiders.
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Zogenix Company Profile
Zogenix, Inc, a pharmaceutical company, develops and commercializes therapies for the treatment of transformative central nervous system disorders in the United States. Its lead product candidate is the Fintepla/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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