Zogenix Now Covered by Analysts at Brinson Patrick (ZGNX)
The analysts wrote, “Given the number of issues surrounding the FDA’s decision on Zohydro ER’s approval, we had suspected the FDA would take actions that would put Zohydro ER at a marketing disadvantage to the other extended release opioids. But as a result of Zogenix’s informal communications with the agency last week, we believe Zohydro ER will be approved in the next few weeks with prescribing and distribution restrictions that are similar to other extended release opioids. Not only did the FDA not ask for additional data or issue a three month extension, but in Zogenix’s press release the company described Zohydro ER’s REMS as “consistent with…” similar drugs.”
Zogenix opened at 1.87 on Tuesday. Zogenix has a 1-year low of $1.11 and a 1-year high of $3.30. The stock’s 50-day moving average is currently $1.45. The company’s market cap is $188.2 million.
A number of other firms have also recently commented on ZGNX. Analysts at Leerink Swann reiterated an “outperform” rating on shares of Zogenix in a research note to investors on Wednesday, February 27th. Separately, analysts at Stifel Nicolaus downgraded shares of Zogenix from a “buy” rating to a “hold” rating in a research note to investors on Monday, December 10th. They now have a $6.00 price target on the stock. Finally, analysts at Wells Fargo reiterated an “outperform” rating on shares of Zogenix in a research note to investors on Monday, December 10th.
Zogenix, Inc. (Zogenix) is a pharmaceutical company commercializing and developing products for the treatment of central nervous system disorders and pain.
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