Zogenix Inc. (ZGNX) Stock Rating Reaffirmed by Brean Capital
Zogenix Inc. (NASDAQ:ZGNX)‘s stock had its “buy” rating reissued by equities researchers at Brean Capital in a note issued to investors on Wednesday. They currently have a $28.00 target price on the stock. Brean Capital’s target price suggests a potential upside of 204.68% from the stock’s current price.
Separately, Zacks Investment Research upgraded shares of Zogenix from a “sell” rating to a “hold” rating in a research note on Saturday, August 13th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Zogenix currently has a consensus rating of “Buy” and an average price target of $22.75.
Zogenix (NASDAQ:ZGNX) traded up 1.74% during mid-day trading on Wednesday, hitting $9.35. 37,661 shares of the stock were exchanged. The company’s market cap is $231.79 million. Zogenix has a one year low of $7.33 and a one year high of $17.67. The company has a 50-day moving average price of $9.27 and a 200-day moving average price of $9.43.
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Zogenix (NASDAQ:ZGNX) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.76) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.81) by $0.05. The firm earned $2.10 million during the quarter, compared to analysts’ expectations of $5.36 million. Zogenix had a negative net margin of 192.64% and a negative return on equity of 33.62%. Zogenix’s quarterly revenue was down 71.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($3.78) EPS. Analysts forecast that Zogenix will post ($3.24) earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in ZGNX. JPMorgan Chase & Co. increased its position in Zogenix by 6.6% in the second quarter. JPMorgan Chase & Co. now owns 13,530 shares of the company’s stock valued at $109,000 after buying an additional 835 shares during the period. Alliancebernstein L.P. increased its position in Zogenix by 17.0% in the second quarter. Alliancebernstein L.P. now owns 16,512 shares of the company’s stock valued at $133,000 after buying an additional 2,400 shares during the period. Metropolitan Life Insurance Co. NY increased its position in Zogenix by 15.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 19,892 shares of the company’s stock valued at $184,000 after buying an additional 2,671 shares during the period. ProShare Advisors LLC increased its position in Zogenix by 1.2% in the second quarter. ProShare Advisors LLC now owns 21,472 shares of the company’s stock valued at $173,000 after buying an additional 252 shares during the period. Finally, Palo Alto Investors LLC increased its position in Zogenix by 3.1% in the second quarter. Palo Alto Investors LLC now owns 29,500 shares of the company’s stock valued at $237,000 after buying an additional 900 shares during the period. Hedge funds and other institutional investors own 84.91% of the company’s stock.
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 in requirement of treatment alternatives. The Company’s areas of focus are epilepsy and schizophrenia.
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