Eagle Asset Management Inc. bought a new position in Zogenix, Inc. (NASDAQ:ZGNX) during the fourth quarter, Holdings Channel reports. The firm bought 994,399 shares of the company’s stock, valued at approximately $39,750,000.
Several other large investors have also recently bought and sold shares of ZGNX. VHCP Management II LLC purchased a new stake in shares of Zogenix in the third quarter worth about $31,792,000. Perceptive Advisors LLC lifted its position in shares of Zogenix by 6.4% in the third quarter. Perceptive Advisors LLC now owns 3,670,357 shares of the company’s stock worth $128,646,000 after buying an additional 222,055 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Zogenix in the third quarter worth about $5,338,000. Sphera Funds Management LTD. purchased a new stake in shares of Zogenix in the third quarter worth about $5,082,000. Finally, EAM Investors LLC purchased a new stake in shares of Zogenix in the third quarter worth about $4,701,000. Institutional investors own 73.47% of the company’s stock.
Shares of Zogenix, Inc. (ZGNX) opened at $41.25 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.71 and a current ratio of 2.71. Zogenix, Inc. has a 52 week low of $8.50 and a 52 week high of $43.35. The firm has a market capitalization of $1,416.34, a P/E ratio of -9.33 and a beta of 1.79.
A number of research firms recently commented on ZGNX. BidaskClub upgraded Zogenix from a “hold” rating to a “buy” rating in a research report on Friday, December 29th. JMP Securities began coverage on Zogenix in a research report on Monday, November 27th. They issued an “outperform” rating and a $56.00 target price on the stock. ValuEngine upgraded Zogenix from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded Zogenix from a “sell” rating to a “hold” rating in a research report on Saturday, January 27th. Finally, Mizuho reiterated a “buy” rating and issued a $51.00 target price on shares of Zogenix in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $42.67.
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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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