“We believe the Breakthrough designation is likely to expedite the review process for the DS indication.”,” Mizuho’s analyst wrote.
A number of other research firms have also recently weighed in on ZGNX. BidaskClub upgraded Zogenix from a hold rating to a buy rating in a report on Saturday, February 10th. JMP Securities initiated coverage on Zogenix in a report on Monday, November 27th. They set an outperform rating and a $56.00 price target for the company. ValuEngine upgraded Zogenix from a sell rating to a hold rating in a report on Friday, February 2nd. Zacks Investment Research upgraded Zogenix from a sell rating to a hold rating in a report on Saturday, January 27th. Finally, Leerink Swann increased their price target on Zogenix from $50.00 to $54.00 and gave the stock an outperform rating in a report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $43.33.
Zogenix (NASDAQ:ZGNX) last issued its earnings results on Tuesday, March 6th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.17). Zogenix had a negative return on equity of 81.65% and a negative net margin of 309.76%. During the same period last year, the company earned ($0.95) earnings per share. equities analysts anticipate that Zogenix will post -3.12 EPS for the current fiscal year.
In related news, Director Roger Hawley sold 63,203 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $36.84, for a total transaction of $2,328,398.52. Following the completion of the transaction, the director now directly owns 105,575 shares in the company, valued at approximately $3,889,383. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bradley S. Galer bought 1,346 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were purchased at an average price of $36.59 per share, with a total value of $49,250.14. The disclosure for this purchase can be found here. Corporate insiders own 5.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ZGNX. Stifel Financial Corp purchased a new position in Zogenix during the 2nd quarter valued at about $175,000. Voya Investment Management LLC boosted its holdings in Zogenix by 13.5% during the 2nd quarter. Voya Investment Management LLC now owns 14,147 shares of the company’s stock valued at $205,000 after acquiring an additional 1,686 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Zogenix during the 3rd quarter valued at about $226,000. Sterling Capital Management LLC purchased a new position in Zogenix during the 3rd quarter valued at about $237,000. Finally, Alliancebernstein L.P. boosted its holdings in Zogenix by 16.3% during the 2nd quarter. Alliancebernstein L.P. now owns 17,812 shares of the company’s stock valued at $258,000 after acquiring an additional 2,500 shares during the period.
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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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