Zogenix Target of Unusually High Options Trading (ZGNX)

Zogenix, Inc. (NASDAQ:ZGNX) was the recipient of unusually large options trading on Friday. Traders acquired 3,665 put options on the stock. This represents an increase of approximately 1,031% compared to the typical volume of 324 put options.

ZGNX has been the subject of several research analyst reports. ValuEngine raised Zogenix from a “sell” rating to a “hold” rating in a report on Saturday, September 30th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 price objective (up previously from $26.00) on shares of Zogenix in a report on Friday, September 29th. BidaskClub raised Zogenix from a “hold” rating to a “buy” rating in a report on Friday, December 29th. Mizuho reaffirmed a “buy” rating and issued a $51.00 price objective (up previously from $28.00) on shares of Zogenix in a report on Friday, September 29th. Finally, William Blair raised Zogenix from a “market perform” rating to an “outperform” rating in a report on Friday, September 29th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Zogenix presently has an average rating of “Buy” and a consensus target price of $42.67.

Shares of Zogenix (ZGNX) opened at $35.95 on Monday. Zogenix has a fifty-two week low of $7.70 and a fifty-two week high of $43.35. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $1,130.00, a PE ratio of -8.19 and a beta of 1.96.

Zogenix (NASDAQ:ZGNX) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by ($0.16). Zogenix had a negative net margin of 309.76% and a negative return on equity of 99.61%. equities research analysts expect that Zogenix will post -4.45 EPS for the current fiscal year.

In other news, Director Roger Hawley sold 11,797 shares of the business’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 completion of the transaction, the director now owns 105,575 shares in the company, valued at $3,908,386.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bradley S. Galer purchased 1,346 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was acquired at an average price of $36.59 per share, with a total value of $49,250.14. The disclosure for this purchase can be found here. 5.00% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in Zogenix by 1,794.4% during the second quarter. JPMorgan Chase & Co. now owns 286,299 shares of the company’s stock valued at $4,152,000 after purchasing an additional 271,186 shares during the period. Northern Trust Corp grew its holdings in Zogenix by 15.3% during the second quarter. Northern Trust Corp now owns 341,309 shares of the company’s stock valued at $4,949,000 after purchasing an additional 45,219 shares during the period. Sphera Funds Management LTD. bought a new stake in Zogenix during the third quarter valued at about $5,082,000. Point72 Asset Management L.P. bought a new stake in Zogenix during the third quarter valued at about $5,338,000. Finally, Nationwide Fund Advisors grew its holdings in Zogenix by 367.3% during the second quarter. Nationwide Fund Advisors now owns 87,611 shares of the company’s stock valued at $1,270,000 after purchasing an additional 68,863 shares during the period. 73.43% of the stock is owned by institutional investors and hedge funds.

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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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