BidaskClub Upgrades Zogenix (ZGNX) to “Buy”

Zogenix (NASDAQ:ZGNX) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other analysts have also issued reports about the stock. Mizuho restated a “buy” rating and issued a $51.00 price objective on shares of Zogenix in a report on Thursday, December 7th. ValuEngine upgraded shares of Zogenix from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of Zogenix from a “sell” rating to a “hold” rating in a research note on Saturday, January 27th. Finally, JMP Securities assumed coverage on shares of Zogenix in a research note on Monday, November 27th. They set an “outperform” rating and a $56.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $42.67.

Shares of Zogenix (NASDAQ:ZGNX) opened at $37.75 on Friday. The stock has a market cap of $1,190.00, a PE ratio of -8.60 and a beta of 1.78. Zogenix has a fifty-two week low of $8.50 and a fifty-two week 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 issued its quarterly earnings data on Tuesday, November 7th. The company reported ($1.11) earnings per share (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 year.

In other news, Director Roger Hawley sold 63,203 shares of the business’s stock in a transaction dated 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 directly owns 105,575 shares of the company’s stock, valued at $3,889,383. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Bradley S. Galer acquired 1,346 shares of the stock in a transaction dated Wednesday, December 13th. The shares were bought at an average cost 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 corporate insiders.

Institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Zogenix during the third quarter worth about $226,000. Sterling Capital Management LLC acquired a new position in shares of Zogenix during the third quarter worth about $237,000. Teacher Retirement System of Texas acquired a new position in shares of Zogenix during the fourth quarter worth about $409,000. Stifel Financial Corp acquired a new position in shares of Zogenix during the second quarter worth about $175,000. Finally, Voya Investment Management LLC grew 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 worth $205,000 after buying an additional 1,686 shares in the last quarter. 73.54% 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.

Analyst Recommendations for Zogenix (NASDAQ:ZGNX)

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