Zogenix Inc. (ZGNX) Stock Price Up 3.3%
Zogenix Inc. (NASDAQ:ZGNX)’s share price rose 3.3% during trading on Thursday . The company traded as high as $9.27 and last traded at $9.17, with a volume of 65,423 shares. The stock had previously closed at $8.88.
A number of equities research analysts have issued reports on the stock. Brean Capital reissued a “buy” rating and set a $28.00 target price on shares of Zogenix in a research note on Wednesday, April 27th. Zacks Investment Research lowered shares of Zogenix from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Two research 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.
The stock’s 50 day moving average is $9.10 and its 200-day moving average is $9.56. The firm’s market capitalization is $225.09 million.
Zogenix (NASDAQ:ZGNX) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.76) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.81) by $0.05. The business had revenue of $2.10 million for the quarter, compared to the consensus estimate of $5.36 million. The company’s quarterly revenue was down 71.6% on a year-over-year basis. During the same period last year, the firm earned ($3.78) earnings per share. On average, equities research analysts forecast that Zogenix Inc. will post ($3.24) earnings per share for the current year.
An institutional investor recently raised its position 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 disclosure with the Securities and Exchange Commission. The fund 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 approximately 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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