Zogenix, Inc. (ZGNX) Given Average Recommendation of “Buy” by Brokerages
Shares of Zogenix, Inc. (NASDAQ:ZGNX) have received a consensus rating of “Buy” from the eight ratings firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $46.00.
Several equities analysts recently weighed in on the company. Zacks Investment Research raised Zogenix from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 price objective (up from $26.00) on shares of Zogenix in a research note on Friday, September 29th. Mizuho reissued a “buy” rating and set a $51.00 price target on shares of Zogenix in a research report on Wednesday, November 8th. BidaskClub downgraded Zogenix from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, ValuEngine raised Zogenix from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd.
Zogenix (NASDAQ ZGNX) opened at $36.20 on Tuesday. Zogenix has a one year low of $7.70 and a one year high of $42.60. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.23.
In related news, major shareholder Life Sciences Maste Perceptive purchased 300,000 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was bought at an average price of $37.50 per share, with a total value of $11,250,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.60% of the company’s stock.
Several hedge funds have recently bought and sold shares of ZGNX. SG Americas Securities LLC acquired a new stake in shares of Zogenix during the second quarter worth $100,000. American International Group Inc. boosted its holdings in shares of Zogenix by 7.1% during the first quarter. American International Group Inc. now owns 15,278 shares of the company’s stock worth $166,000 after purchasing an additional 1,010 shares during the last quarter. Stifel Financial Corp acquired a new stake in shares of Zogenix during the second quarter worth $175,000. Voya Investment Management LLC boosted its holdings in shares of Zogenix by 13.5% during the second quarter. Voya Investment Management LLC now owns 14,147 shares of the company’s stock worth $205,000 after purchasing an additional 1,686 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in shares of Zogenix by 17.0% during the first quarter. Metropolitan Life Insurance Co. NY now owns 19,734 shares of the company’s stock worth $214,000 after purchasing an additional 2,864 shares during the last quarter. Institutional investors and hedge funds own 66.95% of the company’s stock.
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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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