Stock Traders Buy Large Volume of Call Options on Zogenix (ZGNX)

Zogenix, Inc. (NASDAQ:ZGNX) was the recipient of unusually large options trading activity on Tuesday. Traders acquired 1,391 call options on the company. This represents an increase of 908% compared to the typical daily volume of 138 call options.

Zogenix (ZGNX) opened at $37.40 on Friday. The company has a market cap of $1,180.00, a PE ratio of -8.52 and a beta of 1.78. Zogenix has a fifty-two week low of $8.30 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.

Zogenix (NASDAQ:ZGNX) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($1.11) EPS for the quarter, missing the 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 analysts predict that Zogenix will post -4.45 earnings per share for the current fiscal year.

In other news, Director Roger Hawley sold 63,203 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $36.84, for a total value of $2,328,398.52. Following 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 legal filing with the SEC, which is accessible through this link. Also, EVP Bradley S. Galer bought 1,346 shares of Zogenix stock in a transaction dated Wednesday, December 13th. The stock was acquired at an average price of $36.59 per share, for a total transaction of $49,250.14. The disclosure for this purchase can be found here. Insiders own 5.00% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC bought a new position in Zogenix in the 3rd quarter worth about $226,000. Sterling Capital Management LLC bought a new position in Zogenix in the 3rd quarter worth about $237,000. Teacher Retirement System of Texas bought a new position in Zogenix in the 4th quarter worth about $409,000. Stifel Financial Corp bought a new position in Zogenix in the 2nd quarter worth about $175,000. Finally, Voya Investment Management LLC grew its stake in Zogenix by 13.5% in the 2nd quarter. Voya Investment Management LLC now owns 14,147 shares of the company’s stock worth $205,000 after acquiring an additional 1,686 shares in the last quarter. Institutional investors and hedge funds own 73.54% of the company’s stock.

A number of research firms have recently weighed in on ZGNX. ValuEngine upgraded shares of Zogenix from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Mizuho restated a “buy” rating and issued a $51.00 target price on shares of Zogenix in a report on Thursday, February 1st. Zacks Investment Research upgraded shares of Zogenix from a “sell” rating to a “hold” rating in a report on Saturday, January 27th. JMP Securities initiated coverage on shares of Zogenix in a report on Monday, November 27th. They issued an “outperform” rating and a $56.00 target price on the stock. Finally, BidaskClub downgraded shares of Zogenix from a “buy” rating to a “hold” rating in a 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. The stock presently has an average rating of “Buy” and an average price target of $42.67.

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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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