Zogenix, Inc. (NASDAQ:ZGNX) Rating Lowered to Sell at ValuEngine
Zogenix, Inc. (NASDAQ:ZGNX) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Saturday.
A number of other equities research analysts have also recently weighed in on ZGNX. Stifel Nicolaus restated a “buy” rating and set a $26.00 price objective on shares of Zogenix in a research note on Monday, June 26th. Zacks Investment Research upgraded shares of Zogenix from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Friday, July 7th. Finally, BidaskClub cut shares of Zogenix from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $23.00.
Zogenix (NASDAQ:ZGNX) opened at 10.25 on Friday. The stock’s 50 day moving average is $13.43 and its 200-day moving average is $11.75. Zogenix has a 1-year low of $7.50 and a 1-year high of $15.40. The firm’s market capitalization is $254.62 million.
Zogenix (NASDAQ:ZGNX) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by $0.01. Zogenix had a negative net margin of 309.76% and a negative return on equity of 70.75%. The company had revenue of $7.10 million for the quarter, compared to the consensus estimate of $3.48 million. During the same quarter in the prior year, the firm earned ($0.76) earnings per share. Zogenix’s revenue for the quarter was up 238.1% compared to the same quarter last year. Equities research analysts forecast that Zogenix will post ($3.63) EPS for the current year.
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In other news, major shareholder Life Sciences Maste Perceptive bought 175,653 shares of the stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.00% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Zogenix during the second quarter worth about $100,000. 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 during the last quarter. Acadian Asset Management LLC purchased a new position in Zogenix during the first quarter worth about $172,000. Oppenheimer & Co. Inc. purchased a new position in Zogenix during the first quarter worth about $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 during the last quarter. 87.29% of the stock is currently owned by hedge funds and other institutional investors.
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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