Insider Selling: Ann D. Rhoads Unloads 19,229 Shares of Zogenix Stock (ZGNX)
Zogenix (NASDAQ:ZGNX) CFO Ann D. Rhoads sold 19,229 shares of the stock on the open market in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $2.10, for a total transaction of $40,380.90. Following the completion of the transaction, the chief financial officer now directly owns 469,980 shares of the company’s stock, valued at approximately $986,958. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Zogenix (NASDAQ:ZGNX) traded up 1.11% during mid-day trading on Friday, hitting $1.82. The stock had a trading volume of 280,222 shares. Zogenix has a 52 week low of $1.32 and a 52 week high of $5.19. The stock has a 50-day moving average of $2.32 and a 200-day moving average of $3.30. The company’s market cap is $254.0 million. Zogenix also was the recipient of a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 18,987,265 shares, a decline of 6.3% from the April 30th total of 20,271,501 shares. Based on an average daily volume of 1,534,907 shares, the short-interest ratio is currently 12.4 days. Currently, 15.8% of the shares of the company are sold short.
Zogenix (NASDAQ:ZGNX) last released its earnings data on Thursday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by $0.03. The company had revenue of $7.70 million for the quarter, compared to the consensus estimate of $8.71 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Analysts expect that Zogenix will post $-0.64 EPS for the current fiscal year.
ZGNX has been the subject of a number of recent research reports. Analysts at R. F. Lafferty initiated coverage on shares of Zogenix in a research note on Friday. They set a “buy” rating and a $3.50 price target on the stock. Separately, analysts at William Blair reiterated an “outperform” rating on shares of Zogenix in a research note on Monday, May 12th. They now have a $5.00 price target on the stock, down previously from $6.00. Finally, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Zogenix in a research note on Friday, April 25th. They now have a $5.00 price target on the stock.
Zogenix, Inc (NASDAQ:ZGNX) is a pharmaceutical company commercializing and developing products for the treatment of central nervous system disorders and pain.
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