Several other equities research analysts have also issued reports on the stock. Mizuho reissued a buy rating and issued a $65.00 target price on shares of Zogenix in a report on Tuesday, December 10th. Zacks Investment Research raised shares of Zogenix from a sell rating to a hold rating in a report on Saturday. Needham & Company LLC reaffirmed a buy rating and set a $58.00 price objective on shares of Zogenix in a report on Tuesday, December 10th. BidaskClub raised shares of Zogenix from a buy rating to a strong-buy rating in a report on Wednesday, November 27th. Finally, Northland Securities reaffirmed a buy rating on shares of Zogenix in a report on Monday, November 25th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Zogenix currently has an average rating of Buy and an average target price of $59.70.
Zogenix stock opened at $55.08 on Tuesday. The firm has a 50 day moving average of $50.38 and a 200 day moving average of $46.52. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -17.05 and a beta of 2.00. Zogenix has a 12-month low of $35.25 and a 12-month high of $56.50. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 0.04.
Zogenix (NASDAQ:ZGNX) last released its earnings results on Thursday, November 7th. The company reported ($6.75) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.05) by ($5.70). The company had revenue of $0.63 million for the quarter, compared to the consensus estimate of $0.39 million. During the same period last year, the company earned ($1.08) earnings per share. On average, analysts predict that Zogenix will post -3.73 EPS for the current year.
In related news, Director James B. Breitmeyer sold 5,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the sale, the director now directly owns 6,250 shares in the company, valued at $312,500. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Stephen J. Farr sold 34,225 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $51.89, for a total value of $1,775,935.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,950 shares of company stock valued at $5,872,460. 4.40% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Zogenix by 4.8% during the second quarter. BlackRock Inc. now owns 3,498,013 shares of the company’s stock worth $167,134,000 after purchasing an additional 160,698 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Zogenix by 3.5% during the second quarter. Vanguard Group Inc. now owns 3,065,969 shares of the company’s stock worth $146,492,000 after purchasing an additional 102,584 shares during the last quarter. Scopia Capital Management LP lifted its position in shares of Zogenix by 12.2% during the third quarter. Scopia Capital Management LP now owns 1,598,051 shares of the company’s stock worth $63,986,000 after purchasing an additional 173,804 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of Zogenix by 1.3% during the third quarter. Eagle Asset Management Inc. now owns 947,940 shares of the company’s stock worth $37,955,000 after purchasing an additional 12,517 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Zogenix by 45.2% during the second quarter. Bank of America Corp DE now owns 598,171 shares of the company’s stock worth $28,579,000 after purchasing an additional 186,119 shares during the last quarter.
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.
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