BidaskClub Lowers Zogenix (ZGNX) to Sell

Zogenix (NASDAQ:ZGNX) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, BidAskClub reports.

Several other research firms also recently commented on ZGNX. Leerink Swann set a $48.00 price objective on Zogenix and gave the company an “outperform” rating in a report on Tuesday, April 9th. Mizuho restated a “buy” rating and set a $69.00 price objective on shares of Zogenix in a report on Tuesday, March 19th. LADENBURG THALM/SH SH set a $50.00 price objective on Zogenix and gave the company a “buy” rating in a report on Tuesday, April 9th. Guggenheim initiated coverage on Zogenix in a report on Friday, February 22nd. They set a “buy” rating and a $70.00 price objective for the company. Finally, Svb Leerink decreased their price objective on Zogenix from $60.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. Zogenix presently has a consensus rating of “Buy” and an average price target of $61.17.

ZGNX traded down $0.17 during trading on Tuesday, hitting $37.98. The company’s stock had a trading volume of 494,638 shares, compared to its average volume of 1,256,145. Zogenix has a twelve month low of $33.43 and a twelve month high of $62.75. The firm has a market cap of $1.62 billion, a PE ratio of -11.76 and a beta of 2.17.

Zogenix (NASDAQ:ZGNX) last released its quarterly earnings data on Thursday, February 28th. The company reported ($0.53) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.97) by $0.44. As a group, equities research analysts expect that Zogenix will post -3.66 EPS for the current fiscal year.

In related news, Director Roger Hawley sold 60,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $52.99, for a total transaction of $3,179,400.00. Following the completion of the sale, the director now owns 49,364 shares in the company, valued at $2,615,798.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Cam L. Garner sold 12,405 shares of the company’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $46.85, for a total value of $581,174.25. Following the sale, the director now owns 218 shares of the company’s stock, valued at approximately $10,213.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,483 shares of company stock valued at $6,829,351. Corporate insiders own 4.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Zogenix by 18.1% during the third quarter. Vanguard Group Inc. now owns 2,070,386 shares of the company’s stock worth $102,691,000 after buying an additional 318,010 shares in the last quarter. Emory University grew its holdings in Zogenix by 0.8% during the fourth quarter. Emory University now owns 57,822 shares of the company’s stock worth $2,108,000 after buying an additional 448 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Zogenix by 4.6% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 21,006 shares of the company’s stock worth $766,000 after buying an additional 933 shares in the last quarter. Eversept Partners LP grew its holdings in Zogenix by 34.4% during the fourth quarter. Eversept Partners LP now owns 563,429 shares of the company’s stock worth $20,543,000 after buying an additional 144,150 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Zogenix by 45.4% during the fourth quarter. Rhumbline Advisers now owns 56,857 shares of the company’s stock worth $2,073,000 after buying an additional 17,753 shares in the last quarter.

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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