Zogenix Inc. (ZGNX) Trading Up 4.8%
Zogenix Inc. (NASDAQ:ZGNX) was up 4.8% during mid-day trading on Thursday . The company traded as high as $9.72 and last traded at $9.59, with a volume of 61,980 shares. The stock had previously closed at $9.15.
A number of equities research analysts have issued reports on ZGNX shares. Zacks Investment Research upgraded shares of Zogenix from a “sell” rating to a “hold” rating in a research report on Saturday. Brean Capital restated a “buy” rating and set a $28.00 price target on shares of Zogenix in a research note on Wednesday, April 27th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $22.75.
The company has a 50-day moving average of $8.73 and a 200 day moving average of $9.54. The firm has a market cap of $228.64 million and a P/E ratio of 5.46.
Zogenix (NASDAQ:ZGNX) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.05. The business had revenue of $2.10 million for the quarter, compared to analyst estimates of $5.36 million. The firm’s quarterly revenue was down 71.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($3.78) EPS. 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. boosted its position in shares of Zogenix Inc. (NASDAQ:ZGNX) by 400.1% during the fourth quarter, according to its most recent disclosure with the 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 about 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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