Zogenix (ZGNX) Stock Rating Upgraded by ValuEngine

Zogenix (NASDAQ:ZGNX) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Other research analysts have also issued research reports about the company. Mizuho reiterated a “buy” rating and issued a $51.00 price target on shares of Zogenix in a research report on Thursday. JMP Securities assumed coverage on Zogenix in a research report on Monday, November 27th. They issued an “outperform” rating and a $56.00 price target for the company. Zacks Investment Research upgraded Zogenix from a “sell” rating to a “hold” rating in a research report on Saturday, January 27th. Finally, BidaskClub lowered Zogenix from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Zogenix presently has an average rating of “Buy” and an average price target of $42.67.

Zogenix (NASDAQ ZGNX) opened at $37.00 on Friday. The company has a market capitalization of $1,301.59, a PE ratio of -8.37 and a beta of 1.79. Zogenix has a 12-month low of $7.70 and a 12-month high of $43.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.71 and a quick ratio of 2.71.

Zogenix (NASDAQ:ZGNX) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($1.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by ($0.16). Zogenix had a negative return on equity of 99.61% and a negative net margin of 309.76%. analysts expect that Zogenix will post -4.45 EPS for the current 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 transaction, the director now owns 105,575 shares in the company, valued at $3,889,383. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bradley S. Galer bought 1,346 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were 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.

Several large investors have recently made changes to their positions in ZGNX. Stifel Financial Corp purchased a new position in shares of Zogenix during the second quarter valued at approximately $175,000. Voya Investment Management LLC boosted its position 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 valued at $205,000 after buying an additional 1,686 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Zogenix in the third quarter valued at approximately $226,000. GSA Capital Partners LLP purchased a new stake in shares of Zogenix in the second quarter valued at approximately $231,000. Finally, Sterling Capital Management LLC purchased a new stake in shares of Zogenix in the third quarter valued at approximately $237,000. Institutional investors and hedge funds own 73.56% of the company’s stock.

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About Zogenix

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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