Zogenix Short Interest Up 20.7% in August (ZGNX)
Zogenix (NASDAQ:ZGNX) saw a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 26,107,398 shares, an increase of 20.7% from the July 31st total of 21,631,409 shares, Analyst Ratings News reports. Currently, 21.7% of the company’s shares are short sold. Based on an average daily trading volume, of 2,027,542 shares, the days-to-cover ratio is currently 12.9 days.
A number of research firms have recently commented on ZGNX. Analysts at Leerink Swann cut their price target on shares of Zogenix from $3.90 to $3.00 in a research note on Wednesday, August 6th. Separately, analysts at Oppenheimer cut their price target on shares of Zogenix from $5.00 to $2.50 in a research note on Wednesday, August 6th. They now have an “outperform” rating on the stock. Finally, analysts at William Blair reiterated an “outperform” rating on shares of Zogenix in a research note on Tuesday, August 5th. They now have a $3.00 price target on the stock, down previously from $5.00. Four research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus target price of $3.10.
Zogenix (NASDAQ:ZGNX) opened at 1.28 on Friday. Zogenix has a 1-year low of $1.18 and a 1-year high of $5.19. The stock has a 50-day moving average of $1.42 and a 200-day moving average of $2.47. The company’s market cap is $180.5 million.
Zogenix (NASDAQ:ZGNX) last released its earnings data on Tuesday, August 5th. The company reported ($0.19) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.16) by $0.03. The company had revenue of $9.16 million for the quarter, compared to the consensus estimate of $9.84 million. During the same quarter last year, the company posted ($0.13) earnings per share. Zogenix’s revenue was up 2.5% compared to the same quarter last year. Analysts expect that Zogenix will post $-0.68 EPS for the current fiscal year.
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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