Zogenix, Inc. (ZGNX) Research Coverage Started at Mizuho

Stock analysts at Mizuho started coverage on shares of Zogenix, Inc. (NASDAQ:ZGNX) in a report released on Wednesday, September 6th, MarketBeat.com reports. The brokerage set a “buy” rating and a $28.00 price target on the stock. Mizuho’s price objective would indicate a potential upside of 94.44% from the company’s previous close.

The analysts wrote, “We are initiating coverage on ZGNX with a BUY rating/$28 PT given our view of strong efficacy of its lead drug, ZX008, on Dravet patients. While investors are mainly concerned over competition from peers like GW Pharma, our analysis of the clinical data suggests that ZX008 may boast a superior long- term efficacy profile over its competitors with tolerable side effects. Upcoming Phase III read-outs in 3Q17 and 4Q17 or 1Q18 are critical to the company’s success; we have high conviction for positive outcomes. KeyPoints ZX008 is targeting a patient population with high unmet need and we believe it has a profile potentially better than key competition.””

ZGNX has been the topic of several other research reports. Zacks Investment Research cut shares of Zogenix from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. BidaskClub cut shares of Zogenix from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. ValuEngine cut shares of Zogenix from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 price target on shares of Zogenix in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Zogenix currently has a consensus rating of “Hold” and a consensus price target of $23.00.

Zogenix (NASDAQ:ZGNX) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.01). Zogenix had a negative return on equity of 99.73% and a negative net margin of 315.13%. The company had revenue of $7.10 million for the quarter, compared to analyst estimates of $3.48 million. During the same quarter last year, the company posted ($0.76) earnings per share. The firm’s quarterly revenue was up 238.1% on a year-over-year basis.

WARNING: This report was posted by BBNS and is the property of of BBNS. If you are viewing this report on another website, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this report can be accessed at https://baseballnewssource.com/markets/zogenix-inc-zgnx-coverage-initiated-by-analysts-at-mizuho/1615848.html.

In related news, major shareholder Life Sciences Maste Perceptive acquired 175,653 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were bought at an average price of $14.45 per share, with a total value of $2,538,185.85. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.00% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of ZGNX. SG Americas Securities LLC acquired a new stake in shares of Zogenix in the 2nd quarter worth about $100,000. American International Group Inc. raised its holdings in shares of Zogenix by 7.1% in the 1st quarter. American International Group Inc. now owns 15,278 shares of the company’s stock worth $166,000 after acquiring an additional 1,010 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Zogenix in the 1st quarter valued at about $172,000. Stifel Financial Corp purchased a new stake in Zogenix in the 2nd quarter valued at about $175,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in Zogenix in the 1st quarter valued at about $185,000. Institutional investors own 87.15% of the company’s stock.

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.

Receive News & Ratings for Zogenix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zogenix Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Bryce Harper Hoping to Return Monday from Knee Injury
Bryce Harper Hoping to Return Monday from Knee Injury
American League Once Again Dominates National League
American League Once Again Dominates National League
Los Angeles Dodgers Waiting But Magic Number Down to One
Los Angeles Dodgers Waiting But Magic Number Down to One
Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?


Leave a Reply

 
© 2006-2017 BBNS.