Zogenix, Inc. (NASDAQ:ZGNX) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS
Zogenix, Inc. (NASDAQ:ZGNX) announced its quarterly earnings results on Tuesday. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.89) by $0.01, Briefing.com reports. The firm had revenue of $7.10 million for the quarter, compared to analyst estimates of $3.48 million. Zogenix had a negative net margin of 360.89% and a negative return on equity of 57.74%. The company’s revenue was up 238.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.76) EPS.
Shares of Zogenix (ZGNX) traded down 4.69% during mid-day trading on Thursday, reaching $10.15. 296,078 shares of the company traded hands. Zogenix has a 52-week low of $7.50 and a 52-week high of $15.40. The stock’s market capitalization is $252.12 million. The company’s 50 day moving average is $13.70 and its 200 day moving average is $11.75.
In other Zogenix news, major shareholder Life Sciences Maste Perceptive purchased 175,653 shares of the firm’s stock in a transaction on Friday, June 30th. The shares were purchased at an average cost of $14.45 per share, with a total value of $2,538,185.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.00% of the stock is currently owned by company insiders.
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Several research analysts have recently weighed in on ZGNX shares. Zacks Investment Research cut shares of Zogenix from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. BidaskClub cut shares of Zogenix from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $26.00 price target on shares of Zogenix in a research report on Monday, June 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Zogenix has a consensus rating of “Buy” and a consensus price target of $23.00.
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. 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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