Zogenix, Inc. (ZGNX) Receives Average Recommendation of “Buy” from Brokerages

Zogenix, Inc. (NASDAQ:ZGNX) has received a consensus rating of “Buy” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $48.00.

A number of equities research analysts have recently weighed in on the company. Mizuho reiterated a “buy” rating and issued a $51.00 price target on shares of Zogenix in a report on Thursday, December 7th. JMP Securities assumed coverage on Zogenix in a report on Monday, November 27th. They issued an “outperform” rating and a $56.00 price target for the company. Leerink Swann reiterated an “outperform” rating and issued a $50.00 price target (up from $20.00) on shares of Zogenix in a report on Monday, October 2nd. ValuEngine upgraded Zogenix from a “sell” rating to a “hold” rating in a report on Saturday, September 30th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $55.00 price target (up from $26.00) on shares of Zogenix in a report on Friday, September 29th.

Shares of Zogenix (ZGNX) opened at $37.75 on Friday. Zogenix has a twelve month low of $7.70 and a twelve month high of $42.60. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.23.

In related news, major shareholder Life Sciences Maste Perceptive acquired 300,000 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was purchased at an average cost of $37.50 per share, for a total transaction of $11,250,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Roger Hawley sold 11,797 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $37.02, for a total value of $436,724.94. Following the transaction, the director now owns 105,575 shares of the company’s stock, valued at $3,908,386.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 523,401 shares of company stock valued at $18,589,316. 5.00% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY grew its stake in Zogenix by 17.0% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 19,734 shares of the company’s stock worth $214,000 after buying an additional 2,864 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Zogenix by 1,794.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 286,299 shares of the company’s stock worth $4,152,000 after buying an additional 271,186 shares during the last quarter. Geode Capital Management LLC grew its stake in Zogenix by 12.8% during the 1st quarter. Geode Capital Management LLC now owns 196,793 shares of the company’s stock worth $2,135,000 after buying an additional 22,407 shares during the last quarter. Vanguard Group Inc. grew its stake in Zogenix by 7.8% during the 1st quarter. Vanguard Group Inc. now owns 974,948 shares of the company’s stock worth $10,578,000 after buying an additional 70,617 shares during the last quarter. Finally, Sphera Funds Management LTD. bought a new position in Zogenix during the 3rd quarter worth $5,082,000. Hedge funds and other 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.

Analyst Recommendations for Zogenix (NASDAQ:ZGNX)

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