California Public Employees Retirement System trimmed its holdings in Zogenix, Inc. (NASDAQ:ZGNX) by 50.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,750 shares of the company’s stock after selling 57,750 shares during the quarter. California Public Employees Retirement System owned approximately 0.23% of Zogenix worth $837,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Metropolitan Life Insurance Co. NY raised its holdings in shares of Zogenix by 17.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 19,734 shares of the company’s stock worth $214,000 after buying an additional 2,864 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Zogenix by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 103,459 shares of the company’s stock worth $1,123,000 after buying an additional 4,583 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Zogenix by 1,794.4% in the second quarter. JPMorgan Chase & Co. now owns 286,299 shares of the company’s stock worth $4,152,000 after buying an additional 271,186 shares during the period. Geode Capital Management LLC raised its holdings in shares of Zogenix by 12.8% in the first quarter. Geode Capital Management LLC now owns 196,793 shares of the company’s stock worth $2,135,000 after buying an additional 22,407 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Zogenix by 7.8% in the first quarter. Vanguard Group Inc. now owns 974,948 shares of the company’s stock worth $10,578,000 after buying an additional 70,617 shares during the period. Hedge funds and other institutional investors own 62.41% of the company’s stock.

Zogenix, Inc. (NASDAQ:ZGNX) opened at $37.20 on Wednesday. Zogenix, Inc. has a fifty-two week low of $7.70 and a fifty-two week high of $42.60. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.23.

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Several equities research analysts have recently weighed in on the company. Mizuho reiterated a “buy” rating and issued a $51.00 price target on shares of Zogenix in a report on Wednesday, November 8th. Leerink Swann reiterated an “outperform” rating and issued a $50.00 price target (up from $20.00) on shares of Zogenix in a report on Monday, October 2nd. ValuEngine upgraded Zogenix from a “sell” rating to a “hold” rating in a report on Saturday, September 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $55.00 price target (up from $26.00) on shares of Zogenix in a report on Friday, September 29th. Finally, William Blair upgraded Zogenix from a “market perform” rating to an “outperform” rating in a report on Friday, September 29th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Zogenix has a consensus rating of “Buy” and an average price target of $40.00.

In other news, major shareholder Life Sciences Maste Perceptive acquired 300,000 shares of Zogenix stock in a transaction on Tuesday, October 3rd. The shares were bought at an average cost of $37.50 per share, for a total transaction of $11,250,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 6.60% of the company’s stock.

About Zogenix

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.

Institutional Ownership by Quarter for Zogenix (NASDAQ:ZGNX)

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