Zogenix, Inc. (ZGNX) Stock Rating Lowered by BidaskClub
Zogenix, Inc. (NASDAQ:ZGNX) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.
Other analysts also recently issued research reports about the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 price target on shares of Zogenix in a report on Monday, June 26th. Zacks Investment Research raised shares of Zogenix from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Friday, July 7th. Six analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of $23.00.
Shares of Zogenix (NASDAQ:ZGNX) opened at 13.60 on Wednesday. Zogenix has a 12-month low of $7.50 and a 12-month high of $15.40. The firm’s market cap is $337.46 million. The firm has a 50-day moving average of $14.40 and a 200-day moving average of $11.64.
Zogenix (NASDAQ:ZGNX) last announced its quarterly earnings results on Thursday, May 4th. The company reported ($0.85) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.88) by $0.03. Zogenix had a negative net margin of 360.89% and a negative return on equity of 57.74%. The company had revenue of $2.70 million for the quarter, compared to the consensus estimate of $4.23 million. During the same quarter in the prior year, the firm earned ($0.42) earnings per share. The company’s revenue for the quarter was down 70.7% compared to the same quarter last year. On average, equities analysts forecast that Zogenix will post ($3.63) earnings per share for the current fiscal year.
In other news, major shareholder Life Sciences Maste Perceptive acquired 175,653 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was acquired at an average price of $14.45 per share, with a total value of $2,538,185.85. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. A.R.T. Advisors LLC purchased a new position in Zogenix during the fourth quarter worth $154,000. American International Group Inc. raised its position in Zogenix by 7.1% in the first quarter. American International Group Inc. now owns 15,278 shares of the company’s stock worth $166,000 after buying an additional 1,010 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Zogenix during the first quarter worth $172,000. Oppenheimer & Co. Inc. purchased a new position in Zogenix during the first quarter worth $185,000. Finally, Nationwide Fund Advisors raised its position in Zogenix by 29.5% in the first quarter. Nationwide Fund Advisors now owns 18,748 shares of the company’s stock worth $203,000 after buying an additional 4,266 shares in the last quarter. 87.11% of the stock is owned by institutional investors and hedge funds.
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. Its primary area of therapeutic focus is epilepsy and related seizure disorders. Its lead product candidate, ZX008, is a low-dose fenfluramine for the treatment of seizures associated with Dravet syndrome.
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