Zacks: Analysts Anticipate Zogenix, Inc. (ZGNX) Will Announce Earnings of -$0.91 Per Share
Equities analysts expect that Zogenix, Inc. (NASDAQ:ZGNX) will announce earnings of ($0.91) per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Zogenix’s earnings. The lowest EPS estimate is ($1.03) and the highest is ($0.81). Zogenix posted earnings of ($0.78) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 16.7%. The firm is scheduled to announce its next earnings results on Tuesday, August 8th.
On average, analysts expect that Zogenix will report full-year earnings of ($3.57) per share for the current financial year, with EPS estimates ranging from ($3.83) to ($3.14). For the next fiscal year, analysts forecast that the business will report earnings of ($3.57) per share, with EPS estimates ranging from ($5.03) to ($1.80). Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Zogenix.
Zogenix (NASDAQ:ZGNX) last posted its earnings results on Thursday, May 4th. The company reported ($0.85) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.88) by $0.03. Zogenix had a negative return on equity of 38.11% and a negative net margin of 229.93%. The firm had revenue of $2.70 million for the quarter, compared to analysts’ expectations of $4.23 million. During the same period in the previous year, the firm earned ($0.42) earnings per share. The business’s revenue was down 70.7% compared to the same quarter last year.
A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered Zogenix from a “buy” rating to a “hold” rating in a research report on Wednesday, March 15th. Aegis reaffirmed a “buy” rating and set a $28.00 target price on shares of Zogenix in a research report on Saturday, March 11th.
Zogenix (NASDAQ:ZGNX) traded up 1.67% during trading on Wednesday, hitting $12.20. The stock had a trading volume of 91,172 shares. The stock’s market cap is $302.71 million. The stock has a 50 day moving average price of $10.75 and a 200-day moving average price of $10.68. Zogenix has a 12 month low of $7.33 and a 12 month high of $13.70.
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In other news, Director Renee P. Tannenbaum bought 5,000 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was acquired at an average cost of $11.00 per share, with a total value of $55,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $110,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.00% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Ameriprise Financial Inc. raised its stake in shares of Zogenix by 43.6% in the first quarter. Ameriprise Financial Inc. now owns 229,134 shares of the company’s stock worth $2,486,000 after buying an additional 69,552 shares during the period. Bank of New York Mellon Corp increased its position in shares of Zogenix by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 103,459 shares of the company’s stock worth $1,123,000 after buying an additional 4,583 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Zogenix during the first quarter worth about $172,000. Nationwide Fund Advisors increased its position in shares of Zogenix by 29.5% in the first quarter. Nationwide Fund Advisors now owns 18,748 shares of the company’s stock worth $203,000 after buying an additional 4,266 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. increased its position in shares of Zogenix by 62.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 243,000 shares of the company’s stock worth $2,637,000 after buying an additional 93,000 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.
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.
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