Zogenix Inc. (ZGNX) Trading Up 4.8%
Zogenix Inc. (NASDAQ:ZGNX)’s share price was up 4.8% during trading on Thursday . The stock traded as high as $9.72 and last traded at $9.59, with a volume of 61,980 shares changing hands. The stock had previously closed at $9.15.
Several equities analysts have recently commented on ZGNX shares. Brean Capital restated a “buy” rating and set a $28.00 price target 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, July 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $22.75.
The firm has a market capitalization of $237.06 million and a price-to-earnings ratio of 5.66. The stock’s 50 day moving average is $8.68 and its 200-day moving average is $9.55.
Zogenix (NASDAQ:ZGNX) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.76) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.81) by $0.05. The business earned $2.10 million during the quarter, compared to analyst estimates of $5.36 million. During the same quarter in the prior year, the company earned ($3.78) earnings per share. The company’s quarterly revenue was down 71.6% on a year-over-year basis. On average, equities research analysts forecast that Zogenix Inc. will post ($3.24) earnings per share for the current year.
An institutional investor recently raised its position in Zogenix stock. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Zogenix Inc. (NASDAQ:ZGNX) by 400.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,456 shares of the company’s stock after buying an additional 62,769 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.32% of Zogenix worth $1,156,000 as of its most recent SEC filing.
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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