Zogenix, Inc. (NASDAQ:ZGNX) rose 7.7% during trading on Monday . The company traded as high as $16.40 and last traded at $15.00. Approximately 488,837 shares were traded during trading, an increase of 32% from the average daily volume of 369,908 shares. The stock had previously closed at $16.25.
ZGNX has been the topic of a number of analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $26.00 target price on shares of Zogenix in a report on Monday, June 26th. Zacks Investment Research upgraded Zogenix from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Friday, July 7th. BidaskClub cut Zogenix from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. ValuEngine cut Zogenix from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Mizuho initiated coverage on Zogenix in a report on Wednesday, September 6th. They set a “buy” rating and a $28.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Zogenix has an average rating of “Buy” and a consensus target price of $23.83.
The firm’s market cap is $387.52 million. The stock has a 50 day moving average of $12.49 and a 200-day moving average of $12.31.
Zogenix (NASDAQ:ZGNX) last posted 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). Zogenix had a negative return on equity of 70.75% and a negative net margin of 309.76%. The firm had revenue of $7.10 million for the quarter, compared to analysts’ expectations of $3.48 million. During the same quarter in the previous year, the firm posted ($0.76) earnings per share. The company’s revenue for the quarter was up 238.1% on a year-over-year basis. On average, equities analysts expect that Zogenix, Inc. will post ($3.74) EPS for the current fiscal year.
In related news, major shareholder Life Sciences Maste Perceptive purchased 175,653 shares of the stock in a transaction dated Friday, June 30th. The shares were acquired at an average cost of $14.45 per share, for a total transaction of $2,538,185.85. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of ZGNX. Nationwide Fund Advisors grew its holdings in shares of Zogenix by 29.5% during the 1st quarter. Nationwide Fund Advisors now owns 18,748 shares of the company’s stock valued at $203,000 after acquiring an additional 4,266 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Zogenix during the 1st quarter valued at $172,000. Bank of New York Mellon Corp lifted its stake in shares of Zogenix by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 103,459 shares of the company’s stock valued at $1,123,000 after purchasing an additional 4,583 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Zogenix by 43.6% in the 1st quarter. Ameriprise Financial Inc. now owns 229,134 shares of the company’s stock valued at $2,486,000 after purchasing an additional 69,552 shares during the last quarter. Finally, American International Group Inc. lifted its stake in shares of Zogenix by 7.1% in the 1st quarter. American International Group Inc. now owns 15,278 shares of the company’s stock valued at $166,000 after purchasing an additional 1,010 shares during the last quarter. Institutional investors and hedge funds own 87.15% of the company’s stock.
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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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