Zogenix (NASDAQ:ZGNX) Sees Unusually-High Trading Volume

Zogenix, Inc. (NASDAQ:ZGNX) saw strong trading volume on Wednesday . 38,971 shares changed hands during trading, a decline of 95% from the previous session’s volume of 794,746 shares.The stock last traded at $16.96 and had previously closed at $17.64.

Separately, Zacks Investment Research raised Zogenix from a “sell” rating to a “hold” rating in a report on Friday, April 23rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $49.25.

The firm’s fifty day moving average price is $18.19. The firm has a market capitalization of $1.00 billion, a PE ratio of -4.18 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 7.73 and a current ratio of 7.77.

Zogenix (NASDAQ:ZGNX) last released its quarterly earnings results on Thursday, May 6th. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.02). The business had revenue of $13.68 million during the quarter, compared to analysts’ expectations of $12.34 million. Zogenix had a negative net margin of 917.30% and a negative return on equity of 60.93%. The business’s revenue was up 995.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.54) EPS. As a group, equities research analysts predict that Zogenix, Inc. will post -3.36 earnings per share for the current year.

In other news, Director Renee P. Tannenbaum acquired 5,000 shares of Zogenix stock in a transaction dated Tuesday, June 1st. The shares were purchased at an average cost of $17.05 per share, for a total transaction of $85,250.00. Following the transaction, the director now owns 37,872 shares of the company’s stock, valued at $645,717.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Cam L. Garner purchased 15,000 shares of Zogenix stock in a transaction that occurred on Monday, May 10th. The shares were bought at an average price of $19.03 per share, for a total transaction of $285,450.00. The disclosure for this purchase can be found here. 4.10% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of ZGNX. Penserra Capital Management LLC grew its position in shares of Zogenix by 169.0% in the 4th quarter. Penserra Capital Management LLC now owns 1,275 shares of the company’s stock worth $25,000 after buying an additional 801 shares during the last quarter. Veriti Management LLC bought a new stake in shares of Zogenix in the 4th quarter worth approximately $55,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Zogenix in the 1st quarter worth approximately $193,000. Royal Bank of Canada grew its position in shares of Zogenix by 166.6% in the 1st quarter. Royal Bank of Canada now owns 4,618 shares of the company’s stock worth $89,000 after buying an additional 2,886 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new stake in shares of Zogenix in the 1st quarter worth approximately $209,000.

Zogenix Company Profile (NASDAQ:ZGNX)

Zogenix, Inc, a biopharmaceutical company, develops and commercializes therapies to transform the lives of patients and their families living with rare diseases in the United States. The company's lead product candidate is the Fintepla, a low-dose fenfluramine, which is in Phase III clinical trials for the treatment of seizures associated with Dravet syndrome, as well as to treat seizures associated with Lennox-Gastaut syndrome; and that is in Phase II clinical trials for the treatment of other rare epileptic syndromes and diseases.

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