BidaskClub Downgrades Zogenix (ZGNX) to Buy

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Zogenix (NASDAQ:ZGNX) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.

A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Zogenix from a “hold” rating to a “sell” rating in a report on Thursday, June 21st. Mizuho reissued a “buy” rating and set a $51.00 price objective on shares of Zogenix in a report on Thursday, May 10th. ValuEngine raised Zogenix from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Finally, Leerink Swann reissued an “outperform” rating on shares of Zogenix in a report on Sunday, March 4th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $53.20.

Shares of NASDAQ ZGNX opened at $42.60 on Tuesday. The stock has a market cap of $1.52 billion, a P/E ratio of -10.60 and a beta of 1.76. Zogenix has a 1-year low of $10.05 and a 1-year high of $48.75.

Zogenix (NASDAQ:ZGNX) last announced its quarterly earnings data on Wednesday, May 9th. The company reported ($0.87) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.74) by ($0.13). During the same quarter in the prior year, the firm earned ($0.86) earnings per share. research analysts anticipate that Zogenix will post -3.89 earnings per share for the current year.

In other Zogenix news, EVP Gail M. Farfel sold 5,118 shares of Zogenix stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $45.00, for a total value of $230,310.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.60% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in ZGNX. Two Sigma Advisers LP bought a new stake in shares of Zogenix in the 4th quarter worth approximately $1,778,000. State of Wisconsin Investment Board grew its position in shares of Zogenix by 66.3% in the 4th quarter. State of Wisconsin Investment Board now owns 31,600 shares of the company’s stock worth $1,266,000 after buying an additional 12,600 shares during the last quarter. Swiss National Bank bought a new stake in shares of Zogenix in the 4th quarter worth approximately $2,043,000. Rhumbline Advisers grew its position in shares of Zogenix by 5.1% in the 1st quarter. Rhumbline Advisers now owns 34,097 shares of the company’s stock worth $1,366,000 after buying an additional 1,659 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Zogenix by 59.5% in the 4th quarter. Deutsche Bank AG now owns 1,036,964 shares of the company’s stock worth $41,529,000 after buying an additional 386,867 shares during the last quarter.

About Zogenix

Zogenix, Inc, a pharmaceutical company, develops and commercializes therapies for the treatment of central nervous system disorders in the United States. Its lead product candidate is the ZX008, a low-dose fenfluramine, which is in Phase III clinical trials for the treatment of seizures associated with Dravet syndrome.

Analyst Recommendations for Zogenix (NASDAQ:ZGNX)

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