Zogenix Inc. (NASDAQ:ZGNX)’s share price rose 4.8% during trading on Friday . The stock traded as high as $8.79 and last traded at $8.72, with a volume of 68,298 shares trading hands. The stock had previously closed at $8.32.

Separately, Brean Capital reaffirmed a “buy” rating and set a $28.00 price objective on shares of Zogenix in a research note on Wednesday, April 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Zogenix presently has an average rating of “Hold” and an average target price of $22.75.

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

Zogenix (NASDAQ:ZGNX) last announced its quarterly earnings results on Tuesday, May 10th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.20. The company earned $9.20 million during the quarter, compared to the consensus estimate of $4.90 million. The business’s revenue was up 100.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.19) earnings per share. On average, analysts anticipate that Zogenix Inc. will post ($3.13) EPS for the current year.

A number of hedge funds recently made changes to their positions in the stock. Cornerstone Capital Management Holdings LLC. increased its stake 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 worth $1,156,000 after buying an additional 62,769 shares in the last quarter. J. Goldman & Co LP boosted its position in shares of Zogenix by 72.1% in the fourth quarter. J. Goldman & Co LP now owns 149,500 shares of the company’s stock worth $2,204,000 after buying an additional 62,615 shares during the last quarter. Finally, Pyrrho Capital Management LP boosted its position in shares of Zogenix by 13.7% in the fourth quarter. Pyrrho Capital Management LP now owns 148,260 shares of the company’s stock worth $2,185,000 after buying an additional 17,860 shares during the last quarter.

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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