ZGNX has been the topic of a number of other reports. Bank of America started coverage on shares of Zogenix in a research note on Friday, September 14th. They set a buy rating and a $63.00 price target on the stock. Northland Securities started coverage on shares of Zogenix in a research note on Wednesday, September 12th. They set an outperform rating and a $70.00 price target on the stock. BidaskClub raised shares of Zogenix from a buy rating to a strong-buy rating in a research note on Tuesday, July 17th. Mizuho reaffirmed a buy rating and set a $69.00 price target on shares of Zogenix in a research note on Friday, August 24th. Finally, Stifel Nicolaus increased their price objective on shares of Zogenix from $55.00 to $65.00 and gave the company a buy rating in a research note on Friday, July 13th. Two research analysts have rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $72.30.
NASDAQ:ZGNX opened at $42.49 on Friday. Zogenix has a fifty-two week low of $32.40 and a fifty-two week high of $62.75. The firm has a market cap of $1.78 billion, a PE ratio of -10.80 and a beta of 2.13.
Zogenix (NASDAQ:ZGNX) last posted its quarterly earnings results on Monday, August 6th. The company reported ($0.82) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.88) by $0.06. During the same quarter last year, the firm earned ($0.90) EPS. Research analysts predict that Zogenix will post -3.7 earnings per share for the current year.
In related news, EVP Gail M. Farfel sold 7,000 shares of the stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $52.62, for a total value of $368,340.00. Following the sale, the executive vice president now directly owns 14,143 shares of the company’s stock, valued at approximately $744,204.66. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Life Sciences Maste Perceptive acquired 100,000 shares of the stock in a transaction that occurred on Friday, August 10th. The stock was acquired at an average cost of $52.00 per share, for a total transaction of $5,200,000.00. The disclosure for this purchase can be found here. 4.60% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in Zogenix by 761.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,534,645 shares of the company’s stock valued at $67,831,000 after acquiring an additional 1,356,428 shares during the last quarter. Swiss National Bank lifted its holdings in Zogenix by 5.3% in the 2nd quarter. Swiss National Bank now owns 59,600 shares of the company’s stock valued at $2,634,000 after purchasing an additional 3,000 shares in the last quarter. First Trust Advisors LP purchased a new position in Zogenix in the 2nd quarter valued at about $1,292,000. DAFNA Capital Management LLC lifted its holdings in Zogenix by 3.7% in the 2nd quarter. DAFNA Capital Management LLC now owns 97,764 shares of the company’s stock valued at $4,321,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Zogenix by 6.9% in the 2nd quarter. Rhumbline Advisers now owns 36,465 shares of the company’s stock valued at $1,612,000 after purchasing an additional 2,368 shares in the last quarter.
Zogenix Company Profile
Zogenix, Inc, a pharmaceutical company, develops and commercializes therapies for the treatment of central nervous system disorders in the United States. Its lead product candidate is the ZX008, a low-dose fenfluramine, which is in Phase III clinical trials for the treatment of seizures associated with Dravet syndrome.
Read More: Buyback For Investors Defined
Receive News & Ratings for Zogenix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zogenix and related companies with MarketBeat.com's FREE daily email newsletter.