Zogenix (NASDAQ:ZGNX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday.
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 DosePro 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. “
ZGNX has been the subject of a number of other research 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 target (up previously from $26.00) on shares of Zogenix in a report on Friday, September 29th. BidaskClub upgraded Zogenix from a “hold” rating to a “buy” rating in a research note on Friday, December 29th. Mizuho reiterated a “buy” rating and set a $51.00 price objective (up from $28.00) on shares of Zogenix in a research note on Friday, September 29th. Finally, William Blair upgraded Zogenix from a “market perform” rating to an “outperform” rating in a research note on Friday, September 29th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $42.67.
Zogenix (NASDAQ:ZGNX) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.16). Zogenix had a negative return on equity of 99.61% and a negative net margin of 309.76%. equities analysts anticipate that Zogenix will post -4.45 EPS for the current fiscal year.
In other Zogenix news, Director Roger Hawley sold 63,203 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $36.84, for a total transaction of $2,328,398.52. Following the completion of the sale, the director now directly owns 105,575 shares in the company, valued at approximately $3,889,383. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Bradley S. Galer acquired 1,346 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were purchased 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 currently owned by insiders.
A number of large investors have recently bought and sold shares of the business. Creative Planning purchased a new stake in Zogenix during the 4th quarter worth approximately $1,008,000. Sterling Capital Management LLC purchased a new stake in shares of Zogenix in the third quarter valued at approximately $237,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Zogenix in the third quarter valued at approximately $226,000. Point72 Asset Management L.P. purchased a new stake in shares of Zogenix in the third quarter valued at approximately $5,338,000. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Zogenix in the third quarter valued at approximately $701,000. Institutional investors own 73.33% of the company’s stock.
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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