Shares of Zogenix Inc. (NASDAQ:ZGNX) fell 6.1% during mid-day trading on Wednesday . The company traded as low as $8.69 and last traded at $8.76, with a volume of 73,268 shares changing hands. The stock had previously closed at $9.33.

A number of brokerages have recently issued reports on ZGNX. Zacks Investment Research upgraded Zogenix from a “sell” rating to a “hold” rating in a research report on Saturday, August 13th. Brean Capital reissued a “buy” rating and set a $28.00 price objective 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 given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $22.75.

The stock’s market cap is $200.80 million. The firm’s 50-day moving average price is $9.15 and its 200 day moving average price is $9.56.

Zogenix (NASDAQ:ZGNX) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.05. During the same quarter in the previous year, the company earned ($3.78) EPS. The company earned $2.10 million during the quarter, compared to analysts’ expectations of $5.36 million. The business’s quarterly revenue was down 71.6% compared to the same quarter last year. Equities analysts anticipate that Zogenix Inc. will post ($3.24) earnings per share for the current year.

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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