Research Analysts Set Expectations for Zogenix Inc.’s Q3 2016 Earnings (ZGNX)
Zogenix Inc. (NASDAQ:ZGNX) – Analysts at Leerink Swann issued their Q3 2016 EPS estimates for Zogenix in a report released on Tuesday. Leerink Swann analyst P. Matteis forecasts that the firm will post earnings of ($0.99) per share for the quarter. Leerink Swann has a “Outperform” rating and a $17.00 price target on the stock. Leerink Swann also issued estimates for Zogenix’s Q4 2016 earnings at ($1.12) EPS, FY2016 earnings at ($3.25) EPS, FY2017 earnings at ($3.76) EPS and FY2018 earnings at ($2.26) EPS.
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, beating analysts’ consensus estimates of ($0.81) by $0.05. Zogenix had a negative net margin of 192.64% and a negative return on equity of 33.62%. The firm had revenue of $2.10 million for the quarter, compared to analysts’ expectations of $5.36 million. During the same quarter in the previous year, the company earned ($3.78) earnings per share. The company’s revenue for the quarter was down 71.6% compared to the same quarter last year.
A number of other research firms also recently commented on ZGNX. Zacks Investment Research raised shares of 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 target price on shares of Zogenix in a research report on Wednesday, September 21st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Zogenix has a consensus rating of “Buy” and a consensus price target of $20.50.
Zogenix (NASDAQ:ZGNX) opened at 10.46 on Thursday. The stock’s market cap is $259.30 million. The firm has a 50 day moving average of $9.65 and a 200-day moving average of $9.51. Zogenix has a 52-week low of $7.33 and a 52-week high of $16.56.
Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in 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 period. Alliancebernstein L.P. boosted its stake in 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 period. ProShare Advisors LLC boosted its stake in 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 period. Metropolitan Life Insurance Co. NY boosted its stake in 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. Finally, Palo Alto Investors LLC boosted its stake in 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 period. 84.91% of the stock is currently owned by hedge funds and other institutional investors.
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.
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