Zogenix Inc. (NASDAQ:ZGNX) fell 2.1% on Thursday . The company traded as low as $9.66 and last traded at $9.68, with a volume of 58,360 shares changing hands. The stock had previously closed at $9.89.

A number of brokerages have weighed in on ZGNX. Zacks Investment Research raised shares of Zogenix from a “sell” rating to a “hold” rating in a report on Saturday, August 13th. Brean Capital reissued a “buy” rating and issued a $28.00 price target on shares of Zogenix in a report on Wednesday, May 11th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $22.75.

The company’s market cap is $243.19 million. The stock has a 50 day moving average of $9.02 and a 200-day moving average of $9.55.

Zogenix (NASDAQ:ZGNX) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.05. The company had revenue of $2.10 million for the quarter, compared to analyst estimates of $5.36 million. The business’s revenue was down 71.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($3.78) earnings per share. Analysts expect that Zogenix Inc. will post ($3.24) earnings per share for the current year.

A hedge fund recently raised its stake in Zogenix stock. Cornerstone Capital Management Holdings LLC. raised its position in shares of Zogenix Inc. (NASDAQ:ZGNX) by 400.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 0.32% of Zogenix worth $1,156,000 at the end of the most recent reporting 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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