Zogenix (NASDAQ: ZGNX) has recently received a number of price target changes and ratings updates:

  • 10/2/2017 – Zogenix had its “outperform” rating reaffirmed by analysts at Leerink Swann. They now have a $50.00 price target on the stock, up previously from $20.00.
  • 9/30/2017 – Zogenix was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 9/29/2017 – Zogenix had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $51.00 price target on the stock, up previously from $28.00. They wrote, “We view the readout as impressive, but expect in real world application, a small percentage (~10-15%) of patients may not tolerate the therapy well. We further believe ZX-008 has better efficacy than GW Pharma’s competing drug, Epidiolex (GWPH, non-rated) NDA filing expected 2H2018. Zogenix’s pivotal phase III program for ZX008 is in DS comprises Study 1 and 1504. Data from both trials will be used in the NDA registration for the US.””
  • 9/29/2017 – Zogenix was upgraded by analysts at William Blair from a “market perform” rating to an “outperform” rating.
  • 9/29/2017 – Zogenix had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $55.00 price target on the stock, up previously from $26.00.
  • 9/6/2017 – Zogenix is now covered by analysts at Mizuho. They set a “buy” rating and a $28.00 price target on the stock. They wrote, “We are initiating coverage on ZGNX with a BUY rating/$28 PT given our view of strong efficacy of its lead drug, ZX008, on Dravet patients. While investors are mainly concerned over competition from peers like GW Pharma, our analysis of the clinical data suggests that ZX008 may boast a superior long- term efficacy profile over its competitors with tolerable side effects. Upcoming Phase III read-outs in 3Q17 and 4Q17 or 1Q18 are critical to the company’s success; we have high conviction for positive outcomes. KeyPoints ZX008 is targeting a patient population with high unmet need and we believe it has a profile potentially better than key competition.””
  • 9/1/2017 – Zogenix was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Zogenix, Inc. is a pharmaceutical company engaged in the development and commercialization of treatment products for central nervous system disorders and pain. Its first commercial product, Sumavel¬ô DosePro¬ô is a needle-free Delivery System used in the treatment of acute migraine and cluster headache in a pre-filled, single-use delivery system. Its lead product candidate, ZX002, is a novel, oral and single-entity controlled-release formulation of hydrocodone used for the treatment of moderate to severe chronic pain in patients requiring around-the-clock opioid therapy. Zogenix, Inc. is headquartered in San Diego, CA. “
  • 9/1/2017 – Zogenix was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 8/22/2017 – Zogenix was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 8/18/2017 – Zogenix was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

Zogenix (NASDAQ:ZGNX) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.89) by ($0.01). Zogenix had a negative net margin of 309.76% and a negative return on equity of 70.75%. The firm 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 company posted ($0.76) EPS. The company’s revenue for the quarter was up 238.1% compared to the same quarter last year.

In other news, major shareholder Life Sciences Maste Perceptive acquired 222,055 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was purchased at an average price of $32.83 per share, with a total value of $7,290,065.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.00% of the company’s stock.

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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