Zogenix, Inc. (ZGNX) Given Consensus Recommendation of “Buy” by Analysts

Zogenix, Inc. (NASDAQ:ZGNX) has earned a consensus recommendation of “Buy” from the nine ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $48.00.

ZGNX has been the subject of several research analyst reports. BidaskClub raised Zogenix from a “hold” rating to a “buy” rating in a research report on Friday, December 29th. JMP Securities initiated coverage on Zogenix in a research report on Monday, November 27th. They issued an “outperform” rating and a $56.00 price objective for the company. Mizuho reissued a “buy” rating and issued a $51.00 price objective on shares of Zogenix in a research report on Wednesday, November 8th. Leerink Swann reissued an “outperform” rating and issued a $50.00 price objective (up from $20.00) on shares of Zogenix in a research report on Monday, October 2nd. Finally, ValuEngine raised Zogenix from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th.

Zogenix (NASDAQ ZGNX) opened at $34.75 on Wednesday. The stock has a market capitalization of $1,080.00, a price-to-earnings ratio of -7.92 and a beta of 1.96. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.23. Zogenix has a 12-month low of $7.70 and a 12-month high of $43.35.

In other news, EVP Bradley S. Galer bought 1,346 shares of Zogenix stock in a transaction dated Wednesday, December 13th. The stock was bought at an average cost of $36.59 per share, for a total transaction of $49,250.14. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Roger Hawley sold 11,797 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $37.02, for a total value of $436,724.94. Following the completion of the sale, the director now owns 105,575 shares of the company’s stock, valued at $3,908,386.50. The disclosure for this sale can be found here. Company insiders own 6.60% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. TIAA CREF Investment Management LLC grew its stake in shares of Zogenix by 0.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 66,610 shares of the company’s stock valued at $966,000 after buying an additional 608 shares during the period. Voya Investment Management LLC grew its stake in shares of Zogenix by 13.5% in the 2nd quarter. Voya Investment Management LLC now owns 14,147 shares of the company’s stock valued at $205,000 after buying an additional 1,686 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Zogenix by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 105,926 shares of the company’s stock valued at $1,536,000 after buying an additional 2,467 shares during the period. Alliancebernstein L.P. grew its stake in shares of Zogenix by 16.3% in the 2nd quarter. Alliancebernstein L.P. now owns 17,812 shares of the company’s stock valued at $258,000 after buying an additional 2,500 shares during the period. Finally, Teachers Advisors LLC grew its stake in shares of Zogenix by 6.9% in the 2nd quarter. Teachers Advisors LLC now owns 44,555 shares of the company’s stock valued at $646,000 after buying an additional 2,876 shares during the period. Institutional investors own 73.43% of the company’s stock.

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About Zogenix

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.

Analyst Recommendations for Zogenix (NASDAQ:ZGNX)

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