First Trust Advisors LP reduced its stake in shares of Zogenix, Inc. (NASDAQ:ZGNX) by 11.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,936 shares of the company’s stock after selling 3,304 shares during the quarter. First Trust Advisors LP owned 0.07% of Zogenix worth $1,286,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in ZGNX. Bank of New York Mellon Corp raised its stake in Zogenix by 761.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,534,645 shares of the company’s stock valued at $67,831,000 after purchasing an additional 1,356,428 shares during the last quarter. BlackRock Inc. raised its stake in Zogenix by 12.4% during the 2nd quarter. BlackRock Inc. now owns 2,939,543 shares of the company’s stock valued at $129,928,000 after purchasing an additional 324,650 shares during the last quarter. Tavio Capital LLC acquired a new position in Zogenix during the 2nd quarter valued at $3,543,000. 683 Capital Management LLC acquired a new position in Zogenix during the 2nd quarter valued at $2,210,000. Finally, Scopia Capital Management LP raised its stake in Zogenix by 1.0% during the 2nd quarter. Scopia Capital Management LP now owns 3,507,728 shares of the company’s stock valued at $155,042,000 after purchasing an additional 36,090 shares during the last quarter.
A number of brokerages have recently issued reports on ZGNX. Bank of America began coverage on shares of Zogenix in a research note on Friday, September 14th. They issued a “buy” rating and a $63.00 price objective for the company. Northland Securities began coverage on shares of Zogenix in a research note on Wednesday, September 12th. They issued an “outperform” rating and a $70.00 price objective for the company. Zacks Investment Research cut shares of Zogenix from a “buy” rating to a “hold” rating in a research note on Saturday, November 17th. Mizuho restated a “buy” rating and issued a $69.00 price objective on shares of Zogenix in a research note on Friday, August 24th. Finally, Leerink Swann set a $93.00 price objective on shares of Zogenix and gave the company a “buy” rating in a research note on Saturday, October 6th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $70.00.
Shares of ZGNX stock opened at $42.55 on Friday. Zogenix, Inc. has a 52-week low of $33.42 and a 52-week high of $62.75. The firm has a market capitalization of $1.84 billion, a PE ratio of -10.58 and a beta of 1.84.
Zogenix (NASDAQ:ZGNX) last announced its earnings results on Thursday, November 8th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.20). During the same period last year, the business posted ($1.68) EPS. Sell-side analysts forecast that Zogenix, Inc. will post -3.84 earnings per share for the current year.
In related news, Director Erle T. Mast sold 1,468 shares of the stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $42.08, for a total transaction of $61,773.44. Following the completion of the sale, the director now owns 3,027 shares in the company, valued at approximately $127,376.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gail M. Farfel sold 6,961 shares of the stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $43.23, for a total transaction of $300,924.03. Following the sale, the executive vice president now owns 14,104 shares of the company’s stock, valued at approximately $609,715.92. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.
Zogenix, Inc, a pharmaceutical company, develops and commercializes therapies for the treatment of central nervous system disorders in the United States. Its lead product candidate is the ZX008, a low-dose fenfluramine, which is in Phase III clinical trials for the treatment of seizures associated with Dravet syndrome.
Further Reading: Quiet Period
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