Zogenix, Inc. (ZGNX) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Zogenix, Inc. (NASDAQ:ZGNX) have been assigned a consensus recommendation of “Buy” from the nine analysts that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $48.00.

A number of research analysts recently weighed in on ZGNX shares. Mizuho reaffirmed a “buy” rating and issued a $51.00 price target on shares of Zogenix in a research note on Wednesday, November 8th. JMP Securities started coverage on shares of Zogenix in a research note on Monday, November 27th. They issued an “outperform” rating and a $56.00 price target on the stock. BidaskClub raised shares of Zogenix from a “hold” rating to a “buy” rating in a research note on Friday, December 29th. Zacks Investment Research raised shares of Zogenix from a “sell” rating to a “hold” rating in a research note on Saturday, January 27th. Finally, ValuEngine raised shares of Zogenix from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd.

In other Zogenix news, EVP Bradley S. Galer bought 1,346 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were acquired at an average cost of $36.59 per share, with a total value of $49,250.14. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Roger Hawley sold 11,797 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $37.02, for a total transaction of $436,724.94. Following the completion of the transaction, the director now directly owns 105,575 shares in the company, valued at $3,908,386.50. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stifel Financial Corp purchased a new position in Zogenix in the 2nd quarter worth approximately $175,000. Voya Investment Management LLC lifted its stake in Zogenix by 13.5% in the 2nd 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 in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Zogenix in the 3rd quarter worth approximately $226,000. GSA Capital Partners LLP purchased a new position in Zogenix in the 2nd quarter worth approximately $231,000. Finally, Sterling Capital Management LLC purchased a new position in Zogenix in the 3rd quarter worth approximately $237,000. 73.54% of the stock is currently owned by institutional investors and hedge funds.

Shares of Zogenix (NASDAQ ZGNX) traded up $0.35 during trading on Friday, reaching $37.75. 1,027,173 shares of the company were exchanged, compared to its average volume of 665,656. The stock has a market cap of $1,190.00, a price-to-earnings ratio of -8.60 and a beta of 1.78. Zogenix has a 1 year low of $8.50 and a 1 year high of $43.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.71 and a quick ratio of 2.71.

Zogenix (NASDAQ:ZGNX) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($1.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.95) by ($0.16). Zogenix had a negative net margin of 309.76% and a negative return on equity of 99.61%. equities analysts anticipate that Zogenix will post -4.45 EPS for the current fiscal year.

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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.

Analyst Recommendations for Zogenix (NASDAQ:ZGNX)

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