Zogenix’s (ZGNX) “Outperform” Rating Reaffirmed at Leerink Swann
Leerink Swann restated their outperform rating on shares of Zogenix Inc. (NASDAQ:ZGNX) in a research report report published on Tuesday morning. They currently have a $17.00 price objective on the stock.
A number of other research firms have also recently weighed in on ZGNX. Brean Capital reissued a buy rating and issued a $28.00 price objective on shares of Zogenix in a research report on Wednesday, September 21st. Zacks Investment Research raised Zogenix from a sell rating to a hold rating in a research report on Saturday, August 13th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $20.50.
Zogenix (NASDAQ:ZGNX) traded down 0.74% during midday trading on Tuesday, reaching $10.71. The company’s stock had a trading volume of 12,069 shares. The firm has a 50 day moving average price of $9.61 and a 200-day moving average price of $9.50. Zogenix has a 12-month low of $7.33 and a 12-month high of $16.56. The company’s market cap is $265.50 million.
Zogenix (NASDAQ:ZGNX) last announced its earnings results on Tuesday, August 9th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.05. The business had revenue of $2.10 million for the quarter, compared to analysts’ expectations of $5.36 million. Zogenix had a negative return on equity of 33.62% and a negative net margin of 192.64%. The business’s revenue for the quarter was down 71.6% on a year-over-year basis. During the same quarter last year, the firm earned ($3.78) EPS. On average, equities research analysts predict that Zogenix will post ($3.24) earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the company. State Street Corp raised its position in shares of Zogenix by 4.2% in the first quarter. State Street Corp now owns 383,552 shares of the company’s stock worth $3,546,000 after buying an additional 15,446 shares during the period. Blair William & Co. IL raised its position in shares of Zogenix by 239.1% in the second quarter. Blair William & Co. IL now owns 195,500 shares of the company’s stock worth $529,000 after buying an additional 137,850 shares during the period. Opaleye Management Inc. purchased a new position in shares of Zogenix during the first quarter worth about $2,218,000. Landscape Capital Management L.L.C. purchased a new position in shares of Zogenix during the first quarter worth about $1,439,000. Finally, Metropolitan Life Insurance Co. NY raised its position 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 period. Institutional investors own 84.91% of the company’s stock.
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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