Zogenix, Inc. (NASDAQ:ZGNX) shares rose 6.6% on Tuesday . The company traded as high as $13.05 and last traded at $13.00. Approximately 644,159 shares traded hands during mid-day trading, an increase of 124% from the average daily volume of 287,389 shares. The stock had previously closed at $12.20.

ZGNX has been the subject of several analyst reports. BidaskClub raised shares of Zogenix from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Stifel Nicolaus reissued a “buy” rating and issued a $26.00 price target on shares of Zogenix in a report on Monday, June 26th. ValuEngine downgraded shares of Zogenix from a “hold” rating to a “sell” rating in a report on Friday. Finally, Zacks Investment Research raised shares of Zogenix from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Friday, July 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Zogenix currently has a consensus rating of “Hold” and an average target price of $23.00.

The company’s market capitalization is $322.93 million. The stock has a 50 day moving average price of $12.31 and a 200-day moving average price of $12.16.

Zogenix (NASDAQ:ZGNX) last posted its earnings results on Tuesday, August 8th. The company reported ($0.90) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.89) by $0.01. The company had revenue of $7.10 million for the quarter, compared to analysts’ expectations of $3.48 million. Zogenix had a negative net margin of 309.76% and a negative return on equity of 70.75%. The business’s revenue was up 238.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.76) earnings per share. On average, analysts predict that Zogenix, Inc. will post ($3.74) earnings per share for the current fiscal year.

In related news, major shareholder Life Sciences Maste Perceptive bought 175,653 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was bought at an average cost of $14.45 per share, with a total value of $2,538,185.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in Zogenix during the second quarter valued at $100,000. Stifel Financial Corp bought a new position in Zogenix during the second quarter valued at $175,000. Voya Investment Management LLC lifted its position in Zogenix by 13.5% during the second quarter. Voya Investment Management LLC now owns 14,147 shares of the company’s stock valued at $205,000 after purchasing an additional 1,686 shares during the last quarter. American International Group Inc. lifted its position in Zogenix by 7.1% during the first quarter. American International Group Inc. now owns 15,278 shares of the company’s stock valued at $166,000 after purchasing an additional 1,010 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in Zogenix during the first quarter valued at $172,000. Institutional investors and hedge funds own 87.15% of the company’s stock.

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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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