Zogenix, Inc. (NASDAQ:ZGNX) Receives Consensus Rating of “Buy” from Analysts
Shares of Zogenix, Inc. (NASDAQ:ZGNX) have earned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $23.00.
ZGNX has been the topic of a number of research analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $26.00 price target on shares of Zogenix in a research note on Monday, June 26th. Zacks Investment Research raised shares of Zogenix from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Friday, July 7th. Finally, BidaskClub cut shares of Zogenix from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.
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Zogenix (ZGNX) opened at 13.75 on Wednesday. The company’s market cap is $341.18 million. Zogenix has a 12 month low of $7.50 and a 12 month high of $15.40. The company’s 50 day moving average is $14.34 and its 200-day moving average is $11.61.
Zogenix (NASDAQ:ZGNX) last released its quarterly earnings results on Thursday, May 4th. The company reported ($0.85) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.03. Zogenix had a negative net margin of 360.89% and a negative return on equity of 57.74%. The firm had revenue of $2.70 million for the quarter, compared to analysts’ expectations of $4.23 million. During the same quarter last year, the company earned ($0.42) EPS. The firm’s revenue for the quarter was down 70.7% compared to the same quarter last year. On average, analysts expect that Zogenix will post ($3.63) earnings per share for the current fiscal year.
In related news, major shareholder Life Sciences Maste Perceptive purchased 175,653 shares of Zogenix stock in a transaction dated Friday, June 30th. The shares were acquired at an average price of $14.45 per share, for a total transaction of $2,538,185.85. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.00% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of ZGNX. Goldman Sachs Group Inc. raised its stake in shares of Zogenix by 0.6% in the first quarter. Goldman Sachs Group Inc. now owns 878,998 shares of the company’s stock valued at $9,537,000 after buying an additional 5,415 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of Zogenix by 17.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 19,734 shares of the company’s stock valued at $214,000 after buying an additional 2,864 shares during the period. Perceptive Advisors LLC raised its stake in shares of Zogenix by 192.6% in the first quarter. Perceptive Advisors LLC now owns 2,203,302 shares of the company’s stock valued at $23,906,000 after buying an additional 1,450,303 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Zogenix during the first quarter valued at about $185,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Zogenix by 89.4% in the first quarter. Dimensional Fund Advisors LP now owns 410,641 shares of the company’s stock valued at $4,455,000 after buying an additional 193,827 shares during the period. Hedge funds and other institutional investors own 87.11% 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. 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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