Zogenix, Inc. (NASDAQ:ZGNX) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other equities analysts also recently issued reports about the company. BidaskClub downgraded Zogenix from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Stifel Nicolaus reiterated a “buy” rating and set a $26.00 price objective on shares of Zogenix in a research report on Monday, June 26th. Finally, Zacks Investment Research upgraded Zogenix from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Friday, July 7th. Three investment analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Zogenix currently has an average rating of “Hold” and an average target price of $23.00.

Zogenix (ZGNX) traded up 0.99% during mid-day trading on Friday, hitting $10.25. The stock had a trading volume of 152,775 shares. The company has a 50-day moving average of $13.43 and a 200-day moving average of $11.75. The stock’s market cap is $254.62 million. Zogenix has a 12-month low of $7.50 and a 12-month high of $15.40.

Zogenix (NASDAQ:ZGNX) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.89) by $0.01. The business had revenue of $7.10 million for the quarter, compared to analyst estimates of $3.48 million. Zogenix had a negative return on equity of 70.75% and a negative net margin of 309.76%. The business’s quarterly revenue was up 238.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.76) earnings per share. On average, analysts anticipate that Zogenix will post ($3.63) earnings per share for the current fiscal year.

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In other news, major shareholder Life Sciences Maste Perceptive bought 175,653 shares of the business’s stock in a transaction on Friday, June 30th. The stock was purchased at an average cost of $14.45 per share, for a total transaction of $2,538,185.85. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Zogenix by 12.8% in the first quarter. Geode Capital Management LLC now owns 196,793 shares of the company’s stock worth $2,135,000 after buying an additional 22,407 shares during the period. Vanguard Group Inc. increased its stake in Zogenix by 7.8% in the first quarter. Vanguard Group Inc. now owns 974,948 shares of the company’s stock worth $10,578,000 after buying an additional 70,617 shares during the period. Bailard Inc. increased its stake in Zogenix by 26.3% in the first quarter. Bailard Inc. now owns 192,000 shares of the company’s stock worth $2,083,000 after buying an additional 40,000 shares during the period. California Public Employees Retirement System increased its stake in Zogenix by 100.0% in the first quarter. California Public Employees Retirement System now owns 115,500 shares of the company’s stock worth $1,329,000 after buying an additional 57,750 shares during the period. Finally, Emory University increased its stake in Zogenix by 26.4% in the first quarter. Emory University now owns 224,820 shares of the company’s stock worth $2,439,000 after buying an additional 46,979 shares during the period. Hedge funds and other institutional investors own 87.29% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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