Zogenix (ZGNX) Earns Buy Rating from Mizuho
Zogenix (NASDAQ:ZGNX)‘s stock had its “buy” rating restated by stock analysts at Mizuho in a note issued to investors on Thursday. They currently have a $51.00 price objective on the stock. Mizuho’s target price would indicate a potential upside of 49.56% from the stock’s previous close.
The analysts wrote, “We found the safety data to be adequate, with no signs of cardiac valve disorder. As such, we believe the share weakness over the past several days is unwarranted.””
A number of other research analysts have also recently issued reports on ZGNX. JMP Securities began coverage on Zogenix in a research note on Monday, November 27th. They set an “outperform” rating and a $56.00 price objective for the company. Leerink Swann restated an “outperform” rating and issued a $50.00 price objective (up from $20.00) on shares of Zogenix in a research report on Monday, October 2nd. ValuEngine upgraded Zogenix from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $55.00 target price (up from $26.00) on shares of Zogenix in a research report on Friday, September 29th. Finally, William Blair upgraded Zogenix from a “market perform” rating to an “outperform” rating in a research report on Friday, September 29th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Zogenix presently has an average rating of “Buy” and a consensus price target of $42.67.
In other Zogenix news, major shareholder Life Sciences Maste Perceptive acquired 222,055 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was purchased at an average price of $32.83 per share, for a total transaction of $7,290,065.65. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.60% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Perceptive Advisors LLC boosted its holdings in Zogenix by 6.4% in the 3rd quarter. Perceptive Advisors LLC now owns 3,670,357 shares of the company’s stock worth $128,646,000 after buying an additional 222,055 shares during the last quarter. RA Capital Management LLC raised its position in shares of Zogenix by 8.4% during the 3rd quarter. RA Capital Management LLC now owns 2,656,166 shares of the company’s stock valued at $31,451,000 after buying an additional 204,929 shares during the period. Great Point Partners LLC purchased a new stake in shares of Zogenix during the 3rd quarter valued at approximately $27,900,000. Federated Investors Inc. PA raised its position in shares of Zogenix by 6.3% during the 4th quarter. Federated Investors Inc. PA now owns 2,191,106 shares of the company’s stock valued at $32,297,000 after buying an additional 129,008 shares during the period. Finally, Kennedy Capital Management Inc. raised its position in shares of Zogenix by 44.9% during the 1st quarter. Kennedy Capital Management Inc. now owns 1,052,990 shares of the company’s stock valued at $11,425,000 after buying an additional 326,196 shares during the period. Institutional investors own 73.43% 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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