Northland Securities started coverage on shares of Zogenix (NASDAQ:ZGNX) in a report published on Wednesday, September 12th, MarketBeat reports. The firm issued an outperform rating and a $70.00 price target on the stock.
Other research analysts have also issued reports about the stock. Stifel Nicolaus lifted their price objective on shares of Zogenix from $55.00 to $65.00 and gave the company a buy rating in a research note on Friday, July 13th. Mizuho reiterated a buy rating and issued a $69.00 price objective on shares of Zogenix in a research note on Thursday, August 9th. Empire lifted their price objective on shares of Zogenix from $57.00 to $66.00 and gave the company a buy rating in a research note on Tuesday, July 31st. BidaskClub lowered shares of Zogenix from a strong-buy rating to a buy rating in a research note on Tuesday, July 24th. Finally, LADENBURG THALM/SH SH started coverage on shares of Zogenix in a research note on Thursday, August 23rd. They issued a buy rating and a $71.00 price objective for the company. Two research analysts have rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $68.40.
Shares of ZGNX stock traded up $0.57 during trading hours on Wednesday, hitting $43.69. 589,391 shares of the company were exchanged, compared to its average volume of 635,331. Zogenix has a 52-week low of $32.40 and a 52-week high of $62.75. The firm has a market cap of $1.78 billion, a P/E ratio of -10.87 and a beta of 2.13.
Zogenix (NASDAQ:ZGNX) last issued its quarterly earnings results on Monday, August 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.88) by $0.06. During the same quarter in the previous year, the business posted ($0.90) EPS. Equities research analysts anticipate that Zogenix will post -3.7 earnings per share for the current fiscal year.
In other news, major shareholder Life Sciences Maste Perceptive purchased 100,000 shares of the business’s stock in a transaction on Friday, August 10th. The stock was purchased at an average cost of $52.00 per share, with a total value of $5,200,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gail M. Farfel sold 7,000 shares of the firm’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $52.62, for a total transaction of $368,340.00. Following the completion of the transaction, the executive vice president now directly owns 14,143 shares of the company’s stock, valued at $744,204.66. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in ZGNX. Scopia Capital Management LP lifted its holdings in shares of Zogenix by 1.0% during the 2nd quarter. Scopia Capital Management LP now owns 3,507,728 shares of the company’s stock worth $155,042,000 after acquiring an additional 36,090 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Zogenix by 12.4% during the 2nd quarter. BlackRock Inc. now owns 2,939,543 shares of the company’s stock worth $129,928,000 after acquiring an additional 324,650 shares during the last quarter. Farallon Capital Management LLC lifted its holdings in shares of Zogenix by 85.4% during the 1st quarter. Farallon Capital Management LLC now owns 1,576,000 shares of the company’s stock worth $63,119,000 after acquiring an additional 726,000 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 worth $67,831,000 after acquiring an additional 1,356,428 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Zogenix by 3.4% during the 1st quarter. Franklin Resources Inc. now owns 875,425 shares of the company’s stock worth $35,061,000 after acquiring an additional 28,700 shares during the last quarter.
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.
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