Shares of Zogenix Inc. (NASDAQ:ZGNX) were up 4.8% during mid-day trading on Friday . The company traded as high as $8.79 and last traded at $8.72, with a volume of 68,298 shares changing hands. The stock had previously closed at $8.32.

Separately, Brean Capital reissued a “buy” rating and issued a $28.00 price objective on shares of Zogenix in a report on Wednesday, May 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Zogenix has an average rating of “Hold” and an average target price of $22.75.

The company’s 50 day moving average is $9.05 and its 200 day moving average is $10.07. The stock has a market capitalization of $215.76 million and a P/E ratio of 5.15.

Zogenix (NASDAQ:ZGNX) last issued its earnings results on Tuesday, May 10th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.62) by $0.20. The firm earned $9.20 million during the quarter, compared to analysts’ expectations of $4.90 million. The firm’s quarterly revenue was up 100.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.19) earnings per share. Analysts expect that Zogenix Inc. will post ($3.13) EPS for the current year.

Other hedge funds and institutional investors have recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. increased its position in shares of Zogenix by 400.1% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 78,456 shares of the company’s stock valued at $1,156,000 after buying an additional 62,769 shares during the last quarter. Pyrrho Capital Management LP boosted its stake in Zogenix by 13.7% in the fourth quarter. Pyrrho Capital Management LP now owns 148,260 shares of the company’s stock valued at $2,185,000 after buying an additional 17,860 shares during the period. Finally, J. Goldman & Co LP boosted its stake in Zogenix by 72.1% in the fourth quarter. J. Goldman & Co LP now owns 149,500 shares of the company’s stock valued at $2,204,000 after buying an additional 62,615 shares during the period.

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 in requirement of treatment alternatives. The Company’s areas of focus are epilepsy and schizophrenia.

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