Zogenix, Inc. (NASDAQ:ZGNX) has been given a consensus recommendation of “Buy” by the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $53.00.
Several brokerages have issued reports on ZGNX. Mizuho restated a “buy” rating and issued a $51.00 target price on shares of Zogenix in a research note on Wednesday, March 7th. Leerink Swann restated an “outperform” rating on shares of Zogenix in a research note on Sunday, March 4th. Zacks Investment Research upgraded Zogenix from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Thursday, March 15th. BidaskClub upgraded Zogenix from a “hold” rating to a “buy” rating in a research note on Friday, April 20th. Finally, ValuEngine upgraded Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd.
In related news, Director Roger Hawley sold 35,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $44.71, for a total transaction of $1,564,850.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ZGNX. Eagle Asset Management Inc. bought a new stake in shares of Zogenix during the 4th quarter valued at $39,750,000. Carillon Tower Advisers Inc. bought a new stake in shares of Zogenix during the 4th quarter valued at $27,776,000. BlackRock Inc. raised its stake in shares of Zogenix by 30.6% during the 4th quarter. BlackRock Inc. now owns 2,656,444 shares of the company’s stock valued at $106,389,000 after purchasing an additional 622,668 shares during the period. Farallon Capital Management LLC raised its stake in shares of Zogenix by 165.6% during the 4th quarter. Farallon Capital Management LLC now owns 850,000 shares of the company’s stock valued at $34,043,000 after purchasing an additional 530,000 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of Zogenix by 59.5% during the 4th quarter. Deutsche Bank AG now owns 1,036,964 shares of the company’s stock valued at $41,529,000 after purchasing an additional 386,867 shares during the period.
Shares of ZGNX opened at $38.30 on Tuesday. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -9.53 and a beta of 1.70. Zogenix has a 1 year low of $38.30 and a 1 year high of $39.30.
Zogenix (NASDAQ:ZGNX) last issued its earnings results on Wednesday, May 9th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by ($0.13). During the same quarter in the previous year, the company posted ($0.86) earnings per share. equities research analysts predict that Zogenix will post -3.89 EPS for the current year.
Zogenix Company Profile
Zogenix, Inc is a pharmaceutical company engaged in developing and commercializing central nervous system (CNS) therapies that address specific clinical needs for people living with orphan and other CNS disorders. Its primary area of therapeutic focus is epilepsy and related seizure disorders. Its lead product candidate, ZX008, is a low-dose fenfluramine for the treatment of seizures associated with Dravet syndrome.
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