Zogenix, Inc. (NASDAQ:ZGNX) Stake Cut by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its position in Zogenix, Inc. (NASDAQ:ZGNX) by 54.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,113 shares of the company’s stock after selling 18,062 shares during the period. JPMorgan Chase & Co.’s holdings in Zogenix were worth $164,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Nationwide Fund Advisors increased its position in Zogenix by 29.5% in the first quarter. Nationwide Fund Advisors now owns 18,748 shares of the company’s stock worth $203,000 after buying an additional 4,266 shares during the last quarter. Bank of New York Mellon Corp increased its position in Zogenix by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 103,459 shares of the company’s stock worth $1,123,000 after buying an additional 4,583 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Zogenix during the first quarter worth about $172,000. Ameriprise Financial Inc. increased its position in Zogenix by 43.6% in the first quarter. Ameriprise Financial Inc. now owns 229,134 shares of the company’s stock worth $2,486,000 after buying an additional 69,552 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. increased its position in Zogenix by 62.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 243,000 shares of the company’s stock worth $2,637,000 after buying an additional 93,000 shares during the last quarter. 87.55% of the stock is currently owned by institutional investors and hedge funds.

Shares of Zogenix, Inc. (NASDAQ:ZGNX) opened at 12.25 on Friday. The company’s 50 day moving average price is $13.01 and its 200-day moving average price is $11.88. The stock’s market capitalization is $304.30 million. Zogenix, Inc. has a 52 week low of $7.50 and a 52 week high of $15.40.

Zogenix (NASDAQ:ZGNX) last released its earnings results on Tuesday, August 8th. The company reported ($0.90) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.89) by $0.01. Zogenix had a negative return on equity of 70.75% and a negative net margin of 309.76%. The company had revenue of $7.10 million for the quarter, compared to analyst estimates of $3.48 million. During the same period in the previous year, the firm earned ($0.76) earnings per share. The company’s revenue for the quarter was up 238.1% compared to the same quarter last year. Equities research analysts predict that Zogenix, Inc. will post ($3.74) EPS for the current year.

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A number of research firms have recently issued reports on ZGNX. BidaskClub raised Zogenix from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research cut Zogenix from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. ValuEngine cut Zogenix from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Finally, Stifel Nicolaus restated a “buy” rating and set a $26.00 price objective on shares of Zogenix in a research note on Monday, June 26th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Zogenix currently has a consensus rating of “Hold” and a consensus target price of $23.00.

In related news, major shareholder Life Sciences Maste Perceptive bought 175,653 shares of the stock in a transaction that occurred on Friday, June 30th. The stock was purchased at an average cost of $14.45 per share, with a total value of $2,538,185.85. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.00% 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.

Institutional Ownership by Quarter for Zogenix (NASDAQ:ZGNX)

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