Zogenix Inc. (NASDAQ:ZGNX)’s share price fell 2.1% during trading on Thursday . The company traded as low as $9.66 and last traded at $9.68, with a volume of 58,360 shares. The stock had previously closed at $9.89.

A number of research firms have recently commented on ZGNX. Brean Capital restated a “buy” rating and set a $28.00 price objective on shares of Zogenix in a research note on Wednesday, May 11th. Zacks Investment Research upgraded shares of Zogenix from a “sell” rating to a “hold” rating in a research note on Saturday, August 13th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Zogenix has an average rating of “Buy” and a consensus price target of $22.75.

The stock’s market capitalization is $243.19 million. The stock’s 50 day moving average is $8.97 and its 200 day moving average is $9.54.

Zogenix (NASDAQ:ZGNX) last released 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. During the same quarter in the previous year, the firm earned ($3.78) EPS. The firm earned $2.10 million during the quarter, compared to analyst estimates of $5.36 million. Zogenix’s quarterly revenue was down 71.6% on a year-over-year basis. Analysts predict that Zogenix Inc. will post ($3.24) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Zogenix stock. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Zogenix Inc. (NASDAQ:ZGNX) by 400.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,456 shares of the company’s stock after buying an additional 62,769 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.32% of Zogenix worth $1,156,000 at the end of the most recent reporting period.

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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