Shares of Zogenix, Inc. (NASDAQ:ZGNX) have been assigned an average rating of “Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $65.30.
Several equities analysts have recently weighed in on the company. BidaskClub raised Zogenix from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th. Northland Securities reaffirmed a “buy” rating and issued a $60.00 target price on shares of Zogenix in a report on Monday, July 8th. Mizuho raised their target price on Zogenix from $58.00 to $65.00 and gave the stock a “positive” rating in a report on Friday, June 28th. Stifel Nicolaus set a $71.00 target price on Zogenix and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, ValuEngine raised Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th.
In other Zogenix news, CFO Michael P. Smith sold 15,000 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $46.32, for a total value of $694,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark C. Wiggins sold 6,250 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.00, for a total value of $312,500.00. Following the completion of the sale, the director now owns 6,250 shares of the company’s stock, valued at approximately $312,500. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,475 shares of company stock worth $3,400,442. 4.40% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the business. D. E. Shaw & Co. Inc. increased its stake in Zogenix by 0.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 68,176 shares of the company’s stock worth $3,257,000 after buying an additional 363 shares in the last quarter. Rhumbline Advisers increased its stake in Zogenix by 0.9% in the 1st quarter. Rhumbline Advisers now owns 57,361 shares of the company’s stock worth $3,155,000 after buying an additional 504 shares in the last quarter. Advisor Group Inc. increased its stake in Zogenix by 383.1% in the 2nd quarter. Advisor Group Inc. now owns 942 shares of the company’s stock worth $45,000 after buying an additional 747 shares in the last quarter. Aperio Group LLC increased its stake in Zogenix by 14.9% in the 2nd quarter. Aperio Group LLC now owns 5,875 shares of the company’s stock worth $281,000 after buying an additional 762 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in Zogenix by 3.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 21,966 shares of the company’s stock worth $1,050,000 after buying an additional 830 shares in the last quarter.
Shares of NASDAQ ZGNX traded up $0.03 during midday trading on Thursday, hitting $48.36. 474,088 shares of the stock traded hands, compared to its average volume of 603,730. The firm has a 50-day moving average of $48.13 and a two-hundred day moving average of $45.10. The firm has a market capitalization of $2.04 billion, a P/E ratio of -14.97 and a beta of 1.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.19 and a current ratio of 7.19. Zogenix has a one year low of $33.43 and a one year high of $56.50.
Zogenix (NASDAQ:ZGNX) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.06). The firm had revenue of $1.07 million during the quarter, compared to analysts’ expectations of $15.00 million. During the same quarter last year, the firm earned ($0.83) earnings per share. Equities analysts forecast that Zogenix will post -3.77 earnings per share for the current fiscal year.
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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