Zogenix Inc. (NASDAQ:ZGNX)‘s stock had its “buy” rating reiterated by research analysts at Brean Capital in a report released on Wednesday. They presently have a $28.00 target price on the stock. Brean Capital’s price objective indicates a potential upside of 194.12% from the stock’s previous close.

Separately, Zacks Investment Research lowered Zogenix from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.75.

Shares of Zogenix (NASDAQ:ZGNX) opened at 9.52 on Wednesday. The stock has a 50 day moving average price of $9.28 and a 200-day moving average price of $9.43. The company’s market capitalization is $236.00 million. Zogenix has a one year low of $7.33 and a one year high of $17.42.

Zogenix (NASDAQ:ZGNX) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.76) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.81) by $0.05. Zogenix had a negative return on equity of 33.62% and a negative net margin of 192.64%. The company earned $2.10 million during the quarter, compared to analysts’ expectations of $5.36 million. During the same period in the prior year, the company earned ($3.78) EPS. Zogenix’s revenue was down 71.6% compared to the same quarter last year. On average, equities research analysts expect that Zogenix will post ($3.24) EPS for the current year.

A number of hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Zogenix by 6.6% in the second quarter. JPMorgan Chase & Co. now owns 13,530 shares of the company’s stock worth $109,000 after buying an additional 835 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Zogenix by 17.0% in the second quarter. Alliancebernstein L.P. now owns 16,512 shares of the company’s stock worth $133,000 after buying an additional 2,400 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Zogenix by 15.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 19,892 shares of the company’s stock worth $184,000 after buying an additional 2,671 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Zogenix by 1.2% in the second quarter. ProShare Advisors LLC now owns 21,472 shares of the company’s stock worth $173,000 after buying an additional 252 shares during the last quarter. Finally, Palo Alto Investors LLC increased its stake in shares of Zogenix by 3.1% in the second quarter. Palo Alto Investors LLC now owns 29,500 shares of the company’s stock worth $237,000 after buying an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 84.91% of the company’s stock.

Zogenix Company Profile

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.

5 Day Chart for NASDAQ:ZGNX

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