“We believe the Breakthrough designation is likely to expedite the review process for the DS indication.”,” the firm’s analyst wrote.
Several other equities analysts have also commented on ZGNX. ValuEngine raised Zogenix from a sell rating to a hold rating in a research report on Friday, February 2nd. BidaskClub raised Zogenix from a hold rating to a buy rating in a research report on Saturday, February 10th. Leerink Swann boosted their price target on Zogenix from $50.00 to $54.00 and gave the stock an outperform rating in a research report on Friday, February 23rd. JMP Securities assumed coverage on Zogenix in a research report on Monday, November 27th. They set an outperform rating and a $56.00 price target on the stock. Finally, Zacks Investment Research raised Zogenix from a sell rating to a hold rating in a research report on Saturday, January 27th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Zogenix currently has a consensus rating of Buy and an average target price of $43.33.
Zogenix (NASDAQ:ZGNX) last released its quarterly earnings results on Tuesday, March 6th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate 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 business earned ($0.95) EPS. research analysts anticipate that Zogenix will post -3.12 EPS for the current year.
In other Zogenix news, EVP Bradley S. Galer bought 1,346 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were bought at an average cost of $36.59 per share, with a total value of $49,250.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Roger Hawley sold 63,203 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $36.84, for a total value of $2,328,398.52. Following the completion of the transaction, the director now directly owns 105,575 shares in the company, valued at $3,889,383. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in ZGNX. Alliancebernstein L.P. raised its position 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 purchasing an additional 2,500 shares in the last quarter. Teachers Advisors LLC raised its position 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 purchasing an additional 2,876 shares in the last quarter. TIAA CREF Investment Management LLC raised its position 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 purchasing an additional 608 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Zogenix by 15.3% in the 2nd quarter. Northern Trust Corp now owns 341,309 shares of the company’s stock valued at $4,949,000 after acquiring an additional 45,219 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Zogenix by 13.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 464,761 shares of the company’s stock valued at $6,739,000 after acquiring an additional 54,120 shares during the last quarter.
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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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