Zacks: Analysts Expect Zogenix, Inc. (ZGNX) Will Announce Earnings of -$0.91 Per Share
Wall Street brokerages forecast that Zogenix, Inc. (NASDAQ:ZGNX) will announce earnings of ($0.91) per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Zogenix’s earnings, with the lowest EPS estimate coming in at ($1.03) and the highest estimate coming in at ($0.81). Zogenix posted earnings per share of ($0.78) in the same quarter last year, which indicates a negative year-over-year growth rate of 16.7%. The business is expected to issue its next earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Zogenix will report full year earnings of ($3.63) per share for the current year, with EPS estimates ranging from ($3.83) to ($3.29). For the next financial year, analysts expect that the company will report earnings of ($3.04) per share, with EPS estimates ranging from ($3.91) to ($1.38). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Zogenix.
Zogenix (NASDAQ:ZGNX) last released its quarterly earnings results on Thursday, May 4th. The company reported ($0.85) EPS for the quarter, topping 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 company had revenue of $2.70 million for the quarter, compared to the consensus estimate of $4.23 million. During the same period in the previous year, the firm earned ($0.42) EPS. Zogenix’s revenue was down 70.7% on a year-over-year basis.
ZGNX has been the subject of a number of recent analyst reports. Stifel Nicolaus reaffirmed 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 Zogenix from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Friday, July 7th. Finally, BidaskClub cut Zogenix from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Six investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $23.00.
Shares of Zogenix (NASDAQ:ZGNX) traded up 1.15% during trading on Wednesday, hitting $13.15. 45,371 shares of the stock traded hands. The company’s market cap is $326.29 million. Zogenix has a 1-year low of $7.50 and a 1-year high of $15.40. The company has a 50 day moving average of $14.42 and a 200-day moving average of $11.64.
In other Zogenix news, major shareholder Life Sciences Maste Perceptive bought 175,653 shares of the firm’s stock in a transaction on Friday, June 30th. The shares were purchased at an average price of $14.45 per share, for a total transaction of $2,538,185.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.00% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Perceptive Advisors LLC raised its position 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. Kennedy Capital Management Inc. raised its position in shares of Zogenix by 44.9% in the first quarter. Kennedy Capital Management Inc. now owns 1,052,990 shares of the company’s stock valued at $11,425,000 after buying an additional 326,196 shares during the period. Dimensional Fund Advisors LP raised its position 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. Sphera Funds Management LTD. acquired a new position in shares of Zogenix during the first quarter valued at about $1,085,000. Finally, Candriam Luxembourg S.C.A. raised 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 valued at $2,637,000 after buying an additional 93,000 shares during the period. 87.11% of the stock is currently owned by institutional investors.
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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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