Zogenix Inc. (ZGNX) Rating Reiterated by Brean Capital
Zogenix Inc. (NASDAQ:ZGNX)‘s stock had its “buy” rating reaffirmed by equities researchers at Brean Capital in a report issued on Wednesday. They presently have a $28.00 price target on the stock. Brean Capital’s price objective would suggest a potential upside of 204.68% from the company’s current price.
Separately, Zacks Investment Research lowered Zogenix from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $22.75.
Zogenix (NASDAQ:ZGNX) traded up 2.72% during mid-day trading on Wednesday, reaching $9.44. The company’s stock had a trading volume of 32,823 shares. The firm’s 50 day moving average is $9.27 and its 200-day moving average is $9.43. The company’s market cap is $234.02 million. Zogenix has a 12-month low of $7.33 and a 12-month high of $17.67.
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Zogenix (NASDAQ:ZGNX) last posted its earnings results on Tuesday, August 9th. The company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.05. The firm had revenue of $2.10 million for the quarter, compared to analyst estimates of $5.36 million. Zogenix had a negative return on equity of 33.62% and a negative net margin of 192.64%. Zogenix’s revenue for the quarter was down 71.6% compared to the same quarter last year. During the same period last year, the company earned ($3.78) earnings per share. Equities analysts anticipate that Zogenix will post ($3.24) earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the company. Opaleye Management Inc. acquired a new position in shares of Zogenix during the first quarter worth about $2,218,000. Landscape Capital Management L.L.C. acquired a new position in shares of Zogenix during the first quarter worth about $1,439,000. Gagnon Securities LLC acquired a new position in shares of Zogenix during the second quarter worth about $1,236,000. Blair William & Co. IL increased its position in shares of Zogenix by 239.1% in the second quarter. Blair William & Co. IL now owns 195,500 shares of the company’s stock worth $529,000 after buying an additional 137,850 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Zogenix by 99.6% in the second quarter. Dimensional Fund Advisors LP now owns 69,396 shares of the company’s stock worth $559,000 after buying an additional 34,631 shares in the last quarter. Institutional investors own 84.91% of the company’s stock.
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 in requirement of treatment alternatives. The Company’s areas of focus are epilepsy and schizophrenia.
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