Zogenix, Inc. (NASDAQ:ZGNX) fell 0% during mid-day trading on Wednesday . The stock traded as low as $37.10 and last traded at $37.55. 2,195,969 shares were traded during mid-day trading, an increase of 124% from the average session volume of 979,623 shares. The stock had previously closed at $37.55.
Several brokerages have recently issued reports on ZGNX. Mizuho reaffirmed a “buy” rating and issued a $51.00 price target on shares of Zogenix in a research report on Wednesday. ValuEngine raised Zogenix from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. Leerink Swann reissued an “outperform” rating and set a $50.00 target price (up from $20.00) on shares of Zogenix in a research report on Monday, October 2nd. BidaskClub downgraded Zogenix from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $55.00 target price (up from $26.00) on shares of Zogenix in a research report on Friday, September 29th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Zogenix currently has an average rating of “Buy” and a consensus price target of $40.00.
The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.48 and a current ratio of 3.59.
Zogenix (NASDAQ:ZGNX) last released its earnings results on Tuesday, August 8th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $3.48 million. During the same period last year, the business earned ($0.76) earnings per share. The firm’s quarterly revenue was up 238.1% compared to the same quarter last year. research analysts anticipate that Zogenix, Inc. will post -3.64 EPS for the current fiscal year.
In other news, major shareholder Life Sciences Maste Perceptive bought 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were acquired at an average cost of $37.50 per share, with a total value of $11,250,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.60% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. TIAA CREF Investment Management LLC lifted its stake in Zogenix by 0.9% during the second quarter. TIAA CREF Investment Management LLC now owns 66,610 shares of the company’s stock worth $966,000 after purchasing an additional 608 shares during the period. American International Group Inc. lifted its stake in Zogenix by 7.1% during the first quarter. American International Group Inc. now owns 15,278 shares of the company’s stock worth $166,000 after purchasing an additional 1,010 shares during the period. Voya Investment Management LLC lifted its stake in Zogenix by 13.5% during the second quarter. Voya Investment Management LLC now owns 14,147 shares of the company’s stock worth $205,000 after purchasing an additional 1,686 shares during the period. Bank of New York Mellon Corp lifted its stake in Zogenix by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 105,926 shares of the company’s stock worth $1,536,000 after purchasing an additional 2,467 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in Zogenix by 16.3% during the second quarter. Alliancebernstein L.P. now owns 17,812 shares of the company’s stock worth $258,000 after purchasing an additional 2,500 shares during the period. Hedge funds and other institutional investors own 68.50% of the company’s stock.
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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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