Other analysts have also issued research reports about the company. Mizuho restated a “buy” rating and set a $65.00 target price on shares of Zogenix in a report on Thursday, September 26th. BidaskClub lowered Zogenix from a “buy” rating to a “hold” rating in a report on Tuesday, September 10th. Stifel Nicolaus set a $71.00 target price on Zogenix and gave the stock a “buy” rating in a report on Wednesday, August 7th. William Blair restated an “outperform” rating on shares of Zogenix in a report on Monday, August 26th. Finally, Northland Securities set a $60.00 target price on Zogenix and gave the stock a “buy” rating in a report on Monday, August 26th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $58.50.
Zogenix stock opened at $41.04 on Thursday. The business has a fifty day moving average of $42.41 and a two-hundred day moving average of $43.44. The company has a quick ratio of 7.19, a current ratio of 7.19 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.82 billion, a P/E ratio of -12.71 and a beta of 1.94. Zogenix has a twelve month low of $33.43 and a twelve month high of $56.50.
Zogenix (NASDAQ:ZGNX) last posted its earnings results on Tuesday, August 6th. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.06). The business had revenue of $1.07 million during the quarter, compared to the consensus estimate of $15.00 million. During the same period in the prior year, the company posted ($0.83) EPS. Equities analysts expect that Zogenix will post -3.81 earnings per share for the current year.
In other news, Director Mark C. Wiggins sold 6,250 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.00, for a total transaction of $312,500.00. Following the transaction, the director now directly owns 6,250 shares of the company’s stock, valued at $312,500. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Michael P. Smith sold 15,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.00, for a total value of $750,000.00. Following the transaction, the chief financial officer now directly owns 16,387 shares in the company, valued at $819,350. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,696 shares of company stock worth $1,241,692. Insiders own 4.40% of the company’s stock.
Several hedge funds have recently modified their holdings of ZGNX. Cadian Capital Management LP increased its position in shares of Zogenix by 146.4% during the second quarter. Cadian Capital Management LP now owns 3,285,410 shares of the company’s stock worth $156,977,000 after purchasing an additional 1,951,818 shares in the last quarter. FMR LLC increased its position in shares of Zogenix by 12.5% in the 1st quarter. FMR LLC now owns 4,708,960 shares of the company’s stock valued at $259,040,000 after acquiring an additional 524,829 shares during the period. Marshall Wace LLP increased its position in shares of Zogenix by 321.4% in the 1st quarter. Marshall Wace LLP now owns 564,721 shares of the company’s stock valued at $31,065,000 after acquiring an additional 430,698 shares during the period. Bank of America Corp DE increased its position in shares of Zogenix by 45.2% in the 2nd quarter. Bank of America Corp DE now owns 598,171 shares of the company’s stock valued at $28,579,000 after acquiring an additional 186,119 shares during the period. Finally, Nuveen Asset Management LLC acquired a new position in shares of Zogenix in the 2nd quarter valued at $8,096,000.
Zogenix, Inc, a pharmaceutical company, develops and commercializes therapies for the treatment of transformative central nervous system disorders in the United States. Its lead product candidate is the Fintepla/ZX008, a low-dose fenfluramine, which is in Phase III clinical trials for the treatment of seizures associated with Dravet syndrome.
Further Reading: Net Margin
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