Analysts Anticipate Zogenix, Inc. (NASDAQ:ZGNX) to Post -$0.94 Earnings Per Share

Wall Street analysts expect Zogenix, Inc. (NASDAQ:ZGNX) to report earnings of ($0.94) per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Zogenix’s earnings, with the lowest EPS estimate coming in at ($1.05) and the highest estimate coming in at ($0.81). Zogenix reported earnings of ($1.02) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.8%. The firm is expected to issue its next quarterly earnings report on Monday, November 8th.

According to Zacks, analysts expect that Zogenix will report full-year earnings of ($3.76) per share for the current year, with EPS estimates ranging from ($4.18) to ($3.50). For the next fiscal year, analysts expect that the firm will report earnings of ($2.25) per share, with EPS estimates ranging from ($4.45) to ($0.19). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Zogenix.

Zogenix (NASDAQ:ZGNX) last released its quarterly earnings results on Thursday, August 5th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.93) by ($0.12). The company had revenue of $18.79 million for the quarter, compared to the consensus estimate of $17.06 million. Zogenix had a negative return on equity of 68.36% and a negative net margin of 558.42%.

Several analysts have recently issued reports on ZGNX shares. SVB Leerink decreased their price target on Zogenix from $42.00 to $37.00 and set an “outperform” rating for the company in a research note on Friday, August 6th. Zacks Investment Research downgraded Zogenix from a “hold” rating to a “sell” rating in a research note on Thursday. UBS Group started coverage on Zogenix in a research note on Thursday, September 9th. They set a “buy” rating and a $23.00 price target for the company. Citigroup decreased their price target on Zogenix from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, August 6th. Finally, Needham & Company LLC decreased their target price on Zogenix from $48.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, August 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $32.24.

In other Zogenix news, Director Cam L. Garner bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 10th. The stock was purchased at an average price of $14.83 per share, for a total transaction of $148,300.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.10% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Zogenix by 15.4% in the 2nd quarter. BlackRock Inc. now owns 5,678,868 shares of the company’s stock valued at $98,132,000 after acquiring an additional 755,896 shares in the last quarter. Morgan Stanley raised its holdings in shares of Zogenix by 10.2% in the 2nd quarter. Morgan Stanley now owns 4,129,534 shares of the company’s stock worth $71,357,000 after buying an additional 382,757 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Zogenix by 12.5% in the 2nd quarter. Franklin Resources Inc. now owns 3,051,570 shares of the company’s stock worth $52,731,000 after buying an additional 338,687 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Zogenix by 29.2% in the 1st quarter. Bank of New York Mellon Corp now owns 2,406,351 shares of the company’s stock worth $46,972,000 after buying an additional 543,726 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Zogenix by 0.6% in the 2nd quarter. Marshall Wace LLP now owns 2,326,808 shares of the company’s stock worth $40,208,000 after buying an additional 14,178 shares in the last quarter.

Shares of ZGNX traded up $0.11 during trading hours on Thursday, hitting $15.72. 563,832 shares of the company were exchanged, compared to its average volume of 835,701. The company has a market cap of $878.72 million, a PE ratio of -3.58 and a beta of 1.35. The firm’s 50 day moving average is $15.23 and its 200-day moving average is $17.44. Zogenix has a 52 week low of $13.01 and a 52 week high of $23.69. The company has a debt-to-equity ratio of 0.56, a quick ratio of 5.96 and a current ratio of 6.01.

About Zogenix

Zogenix, Inc is a pharmaceutical company. The firm engages in the development and commercialization of central nervous system (CNS) therapies and products for the treatment orphan diseases and other CNS disorders. Its products include Fintepla and MT1621. The company was founded by Stephen James Farr, Cam L.

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