BidaskClub upgraded shares of Zogenix (NASDAQ:ZGNX) from a sell rating to a hold rating in a report released on Thursday morning, BidAskClub reports.
Several other equities analysts also recently weighed in on ZGNX. Needham & Company LLC dropped their price target on Zogenix from $50.00 to $48.00 and set a buy rating for the company in a research report on Friday, June 26th. Citigroup initiated coverage on Zogenix in a research report on Thursday, March 5th. They set a neutral rating and a $27.00 price objective for the company. William Blair reissued a buy rating on shares of Zogenix in a research note on Friday, June 26th. Zacks Investment Research raised shares of Zogenix from a hold rating to a strong-buy rating and set a $30.00 price target on the stock in a research note on Sunday, May 10th. Finally, Mizuho lowered their price target on shares of Zogenix from $64.00 to $55.00 in a report on Monday, June 29th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Zogenix has an average rating of Buy and a consensus price target of $54.36.
Shares of ZGNX opened at $29.19 on Thursday. The company has a current ratio of 5.39, a quick ratio of 5.39 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.62 billion, a P/E ratio of -3.09 and a beta of 1.77. The company has a 50-day moving average of $28.83 and a two-hundred day moving average of $33.90. Zogenix has a 12-month low of $16.65 and a 12-month high of $57.22.
Zogenix (NASDAQ:ZGNX) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($1.08) by $0.54. Zogenix had a negative net margin of 8,374.54% and a negative return on equity of 47.19%. The business had revenue of $1.25 million for the quarter, compared to analyst estimates of $0.38 million. During the same period in the prior year, the business earned ($0.83) earnings per share. The company’s quarterly revenue was up 124800.0% on a year-over-year basis. As a group, analysts forecast that Zogenix will post -3.45 EPS for the current fiscal year.
In related news, EVP Ashish M. Sagrolikar bought 1,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was purchased at an average cost of $27.61 per share, for a total transaction of $27,610.00. Following the completion of the acquisition, the executive vice president now owns 5,913 shares in the company, valued at $163,257.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.50% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in Zogenix in the fourth quarter valued at $66,000. US Bancorp DE raised its holdings in shares of Zogenix by 2,196.6% in the 1st quarter. US Bancorp DE now owns 1,332 shares of the company’s stock worth $32,000 after purchasing an additional 1,274 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Zogenix in the 1st quarter valued at about $193,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Zogenix by 63.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,691 shares of the company’s stock worth $91,000 after purchasing an additional 1,432 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in Zogenix during the 4th quarter worth approximately $208,000.
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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