Zogenix, Inc. (NASDAQ:ZGNX) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Zogenix from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. BidaskClub lowered shares of Zogenix from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Finally, Stifel Nicolaus restated a “buy” rating and set a $26.00 target price on shares of Zogenix in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $23.00.

Shares of Zogenix (NASDAQ ZGNX) traded up 2.95% during mid-day trading on Friday, reaching $12.20. 547,045 shares of the company’s stock were exchanged. Zogenix has a 52-week low of $7.50 and a 52-week high of $15.40. The company has a 50 day moving average price of $12.37 and a 200 day moving average price of $12.12. The firm’s market cap is $303.06 million.

Zogenix (NASDAQ:ZGNX) last posted its earnings results on Tuesday, August 8th. The company reported ($0.90) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.89) by $0.01. Zogenix had a negative return on equity of 70.75% and a negative net margin of 309.76%. The company had revenue of $7.10 million during the quarter, compared to analysts’ expectations of $3.48 million. During the same period in the prior year, the business posted ($0.76) earnings per share. The company’s revenue for the quarter was up 238.1% on a year-over-year basis. Analysts forecast that Zogenix will post ($3.74) earnings per share for the current fiscal year.

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

Institutional investors have recently modified their holdings of the company. Great Point Partners LLC purchased a new stake in shares of Zogenix during the third quarter worth approximately $27,900,000. 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 worth $23,906,000 after buying an additional 1,450,303 shares during the period. Baker BROS. Advisors LP acquired a new position in shares of Zogenix during the third quarter worth about $11,430,000. Federated Investors Inc. PA raised its position in shares of Zogenix by 37.9% in the fourth quarter. Federated Investors Inc. PA now owns 1,484,500 shares of the company’s stock worth $18,037,000 after buying an additional 408,200 shares during the period. Finally, TFS Capital LLC acquired a new position in shares of Zogenix during the fourth quarter worth about $4,827,000. Institutional investors own 87.15% of the company’s stock.

About Zogenix

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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