Q3 2017 Earnings Forecast for Zogenix, Inc. (ZGNX) Issued By Leerink Swann
Zogenix, Inc. (NASDAQ:ZGNX) – Investment analysts at Leerink Swann raised their Q3 2017 earnings per share (EPS) estimates for shares of Zogenix in a research note issued on Wednesday. Leerink Swann analyst P. Matteis now forecasts that the company will earn ($0.93) per share for the quarter, up from their prior forecast of ($0.99). Leerink Swann has a “Outperform” rating and a $50.00 price objective on the stock. Leerink Swann also issued estimates for Zogenix’s Q4 2017 earnings at ($0.81) EPS, FY2017 earnings at ($3.46) EPS and FY2018 earnings at ($3.38) EPS.
Zogenix (NASDAQ:ZGNX) last released 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). The company had revenue of $7.10 million for the quarter, compared to analyst estimates of $3.48 million. Zogenix had a negative net margin of 309.76% and a negative return on equity of 70.75%. Zogenix’s revenue for the quarter was up 238.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.76) earnings per share.
ZGNX has been the subject of a number of other reports. ValuEngine raised shares of Zogenix from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. Zacks Investment Research cut shares of Zogenix from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. BidaskClub cut shares of Zogenix from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Mizuho reaffirmed a “buy” rating and set a $51.00 price objective (up from $28.00) on shares of Zogenix in a research report on Friday, September 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 price objective on shares of Zogenix in a research report on Monday, June 26th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $40.00.
Zogenix (ZGNX) opened at 38.55 on Friday. The firm’s market capitalization is $957.62 million. Zogenix has a 1-year low of $7.50 and a 1-year high of $41.65. The company’s 50-day moving average is $16.98 and its 200 day moving average is $13.64.
In other Zogenix news, major shareholder Life Sciences Maste Perceptive bought 222,055 shares of Zogenix stock in a transaction dated Friday, September 29th. The stock was bought at an average price of $32.83 per share, with a total value of $7,290,065.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of Zogenix in the second quarter valued at about $100,000. Stifel Financial Corp bought a new stake in shares of Zogenix in the second quarter valued at about $175,000. Voya Investment Management LLC boosted its position in shares of Zogenix by 13.5% in the second quarter. Voya Investment Management LLC now owns 14,147 shares of the company’s stock valued at $205,000 after acquiring an additional 1,686 shares during the period. American International Group Inc. boosted its position in shares of Zogenix by 7.1% in the first quarter. American International Group Inc. now owns 15,278 shares of the company’s stock valued at $166,000 after acquiring an additional 1,010 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Zogenix in the second quarter valued at about $231,000. 87.21% of the stock is owned by institutional investors.
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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