Zogenix Inc. (NASDAQ:ZGNX)’s share price traded down 4.2% during mid-day trading on Thursday . The stock traded as low as $8.55 and last traded at $8.61, with a volume of 87,016 shares trading hands. The stock had previously closed at $8.99.

Several brokerages have recently issued reports on ZGNX. Brean Capital reissued a “buy” rating and set a $28.00 price objective on shares of Zogenix in a report on Wednesday, April 27th. Zacks Investment Research cut shares of Zogenix from a “hold” rating to a “sell” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $22.75.

The stock has a 50 day moving average of $8.99 and a 200-day moving average of $9.94. The stock has a market capitalization of $213.53 million and a PE ratio of 5.10.

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

Several hedge funds and institutional investors have recently made changes to their positions in ZGNX. Cornerstone Capital Management Holdings LLC. boosted its position in 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 during the last quarter. J. Goldman & Co LP boosted its position in 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 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.