Zogenix, Inc. (ZGNX) Raised to “Hold” at ValuEngine
Zogenix, Inc. (NASDAQ:ZGNX) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report released on Saturday, September 30th.
Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Zogenix from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. BidaskClub downgraded shares of Zogenix from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Stifel Nicolaus reiterated a “buy” rating and set a $55.00 price target (up previously from $26.00) on shares of Zogenix in a research note on Friday, September 29th. Mizuho reissued a “buy” rating and set a $51.00 price objective (up from $28.00) on shares of Zogenix in a report on Friday, September 29th. Finally, William Blair raised Zogenix from a “market perform” rating to an “outperform” rating in a report on Friday, September 29th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $40.00.
Zogenix (NASDAQ ZGNX) traded down 4.02% during midday trading on Friday, reaching $38.25. 1,387,405 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $21.65 and its 200-day moving average price is $14.88. The company’s market capitalization is $950.17 million. Zogenix has a 1-year low of $7.50 and a 1-year high of $41.80.
Zogenix (NASDAQ:ZGNX) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.01). The business had revenue of $7.10 million for the quarter, compared to the consensus estimate of $3.48 million. Zogenix had a negative net margin of 309.76% and a negative return on equity of 70.75%. Zogenix’s revenue was up 238.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.76) EPS. Equities analysts expect that Zogenix will post ($3.62) EPS for the current year.
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In other Zogenix news, major shareholder Life Sciences Maste Perceptive acquired 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was acquired at an average cost of $37.50 per share, for a total transaction of $11,250,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.00% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY raised its stake in shares of Zogenix by 17.0% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 19,734 shares of the company’s stock worth $214,000 after purchasing an additional 2,864 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Zogenix by 4.6% during the 1st quarter. Bank of New York Mellon Corp now owns 103,459 shares of the company’s stock worth $1,123,000 after purchasing an additional 4,583 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Zogenix by 29.5% during the 1st quarter. Nationwide Fund Advisors now owns 18,748 shares of the company’s stock worth $203,000 after purchasing an additional 4,266 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Zogenix by 12.8% during the 1st quarter. Geode Capital Management LLC now owns 196,793 shares of the company’s stock worth $2,135,000 after purchasing an additional 22,407 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Zogenix by 7.8% during the 1st quarter. Vanguard Group Inc. now owns 974,948 shares of the company’s stock worth $10,578,000 after purchasing an additional 70,617 shares in the last quarter. Hedge funds and other institutional investors own 68.71% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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