Zogenix (NASDAQ:ZGNX) Lowered to “Hold” at ValuEngine

Zogenix (NASDAQ:ZGNX) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Tuesday, ValuEngine reports.

Several other equities analysts also recently commented on ZGNX. Zacks Investment Research upgraded Zogenix from a “sell” rating to a “hold” rating in a research report on Saturday, January 11th. Needham & Company LLC restated a “buy” rating and set a $58.00 target price on shares of Zogenix in a research report on Tuesday, December 10th. BidaskClub upgraded Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 27th. JMP Securities set a $69.00 target price on Zogenix and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Mizuho restated a “buy” rating and set a $65.00 target price on shares of Zogenix in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Zogenix presently has a consensus rating of “Buy” and an average target price of $59.70.

Shares of ZGNX stock traded up $1.19 during mid-day trading on Tuesday, reaching $55.75. The stock had a trading volume of 5,499 shares, compared to its average volume of 466,242. The firm’s 50 day simple moving average is $50.52 and its 200 day simple moving average is $46.56. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.04. Zogenix has a one year low of $35.25 and a one year high of $56.50. The firm has a market cap of $2.44 billion, a PE ratio of -17.26 and a beta of 2.00.

Zogenix (NASDAQ:ZGNX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($6.75) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.05) by ($5.70). The business had revenue of $0.63 million during the quarter, compared to the consensus estimate of $0.39 million. During the same period in the prior year, the company earned ($1.08) EPS. Sell-side analysts forecast that Zogenix will post -3.73 earnings per share for the current fiscal year.

In other Zogenix news, CFO Michael P. Smith sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $48.00, for a total transaction of $720,000.00. Following the completion of the transaction, the chief financial officer now owns 16,387 shares of the company’s stock, valued at $786,576. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen J. Farr sold 34,225 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $51.89, for a total transaction of $1,775,935.25. The disclosure for this sale can be found here. Insiders have sold a total of 115,950 shares of company stock valued at $5,872,460 in the last 90 days. 4.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY lifted its stake in Zogenix by 5.0% in the third quarter. Metropolitan Life Insurance Co NY now owns 13,985 shares of the company’s stock valued at $560,000 after buying an additional 666 shares during the last quarter. Scopia Capital Management LP grew its holdings in 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 acquiring an additional 173,804 shares during the period. Bluefin Trading LLC acquired a new position in Zogenix during the third quarter worth about $716,000. Point72 Asset Management L.P. acquired a new position in Zogenix during the third quarter worth about $13,312,000. Finally, California State Teachers Retirement System grew its holdings in Zogenix by 1.2% during the third quarter. California State Teachers Retirement System now owns 66,468 shares of the company’s stock worth $2,661,000 after acquiring an additional 794 shares during the period.

About Zogenix

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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Analyst Recommendations for Zogenix (NASDAQ:ZGNX)

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