BidaskClub downgraded shares of Zogenix (NASDAQ:ZGNX) from a buy rating to a hold rating in a report released on Tuesday.
Several other research analysts have also recently issued reports on the company. ValuEngine upgraded Zogenix from a hold rating to a buy rating in a research report on Monday, April 2nd. Zacks Investment Research upgraded Zogenix from a hold rating to a buy rating and set a $50.00 price target for the company in a research report on Thursday, March 15th. Leerink Swann restated an outperform rating on shares of Zogenix in a research report on Sunday, March 4th. Finally, Mizuho restated a buy rating and issued a $51.00 price target on shares of Zogenix in a research report on Wednesday, March 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Zogenix presently has a consensus rating of Buy and an average price target of $53.20.
NASDAQ:ZGNX opened at $40.00 on Tuesday. The firm has a market capitalization of $1,330.71, a price-to-earnings ratio of -9.95 and a beta of 1.68. Zogenix has a 1 year low of $10.05 and a 1 year high of $45.85.
In other news, Director Roger Hawley sold 35,000 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $44.71, for a total value of $1,564,850.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new stake in shares of Zogenix during the third quarter valued at $5,338,000. State of Wisconsin Investment Board boosted its stake in shares of Zogenix by 66.3% during the fourth quarter. State of Wisconsin Investment Board now owns 31,600 shares of the company’s stock valued at $1,266,000 after acquiring an additional 12,600 shares during the last quarter. Swiss National Bank acquired a new stake in shares of Zogenix during the fourth quarter valued at $2,043,000. Advisory Research Inc. acquired a new stake in shares of Zogenix during the fourth quarter valued at $1,014,000. Finally, Vivo Capital LLC acquired a new stake in shares of Zogenix during the fourth quarter valued at $4,205,000.
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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.
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