Zogenix, Inc. (ZGNX) Sees Unusually-High Trading Volume
Zogenix, Inc. (NASDAQ:ZGNX) saw strong trading volume on Wednesday . 2,756,085 shares traded hands during trading, an increase of 829% from the previous session’s volume of 296,714 shares.The stock last traded at $14.65 and had previously closed at $13.00.
A number of research analysts recently issued reports on the company. Mizuho assumed coverage on Zogenix in a report on Wednesday. They set a “buy” rating and a $28.00 price target on the stock. BidaskClub downgraded Zogenix from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research downgraded Zogenix from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. ValuEngine upgraded Zogenix from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $26.00 price target on shares of Zogenix in a report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $23.83.
The firm’s market cap is $363.92 million. The stock’s 50-day moving average price is $12.28 and its 200 day moving average price is $12.18.
Zogenix (NASDAQ:ZGNX) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.90) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.89) by $0.01. The business had revenue of $7.10 million for the quarter, compared to analyst estimates of $3.48 million. Zogenix had a negative return on equity of 70.75% and a negative net margin of 309.76%. The firm’s revenue for the quarter was up 238.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.76) EPS. Analysts forecast that Zogenix, Inc. will post ($3.74) earnings per share for the current year.
In other Zogenix news, major shareholder Life Sciences Maste Perceptive purchased 175,653 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The stock was purchased at an average price of $14.45 per share, for a total transaction of $2,538,185.85. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 5.00% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of ZGNX. Perceptive Advisors LLC boosted its stake in Zogenix by 192.6% during the 1st quarter. Perceptive Advisors LLC now owns 2,203,302 shares of the company’s stock worth $23,906,000 after purchasing an additional 1,450,303 shares during the period. Kennedy Capital Management Inc. boosted its stake in Zogenix by 44.9% during the 1st quarter. Kennedy Capital Management Inc. now owns 1,052,990 shares of the company’s stock worth $11,425,000 after purchasing an additional 326,196 shares during the period. JPMorgan Chase & Co. boosted its stake in Zogenix by 1,794.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 286,299 shares of the company’s stock worth $4,152,000 after purchasing an additional 271,186 shares during the period. Broadfin Capital LLC acquired a new stake in Zogenix during the 2nd quarter worth $3,806,000. Finally, Dimensional Fund Advisors LP boosted its stake in Zogenix by 89.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 410,641 shares of the company’s stock worth $4,455,000 after purchasing an additional 193,827 shares during the period. Hedge funds and other institutional investors 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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