Leerink Swann Comments on Zogenix, Inc.’s FY2021 Earnings (ZGNX)

Zogenix, Inc. (NASDAQ:ZGNX) – Investment analysts at Leerink Swann boosted their FY2021 earnings per share (EPS) estimates for Zogenix in a research note issued on Thursday, December 6th. Leerink Swann analyst M. Goodman now expects that the company will earn $4.05 per share for the year, up from their previous forecast of $3.69. Leerink Swann currently has a “Outperform” rating and a $60.00 target price on the stock.

A number of other research firms have also issued reports on ZGNX. Mizuho reaffirmed a “buy” rating and set a $69.00 target price on shares of Zogenix in a report on Thursday, August 9th. BidaskClub lowered shares of Zogenix from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Bank of America assumed coverage on shares of Zogenix in a report on Friday, September 14th. They set a “buy” rating and a $63.00 target price for the company. LADENBURG THALM/SH SH assumed coverage on shares of Zogenix in a report on Thursday, August 23rd. They set a “buy” rating and a $71.00 target price for the company. Finally, Stifel Nicolaus assumed coverage on shares of Zogenix in a report on Wednesday, August 15th. They set a “buy” rating and a $69.00 target price for the company. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $70.00.



Zogenix stock opened at $43.61 on Friday. Zogenix has a 52-week low of $33.42 and a 52-week high of $62.75. The firm has a market cap of $1.84 billion, a PE ratio of -10.85 and a beta of 1.84.

Zogenix (NASDAQ:ZGNX) last released its earnings results on Thursday, November 8th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.88) by ($0.20). During the same period last year, the firm earned ($1.68) EPS.

In related news, Director Erle T. Mast sold 1,468 shares of the company’s stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $42.08, for a total value of $61,773.44. Following the completion of the sale, the director now owns 3,027 shares of the company’s stock, valued at $127,376.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gail M. Farfel sold 6,961 shares of the company’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $43.23, for a total transaction of $300,924.03. Following the completion of the sale, the executive vice president now directly owns 14,104 shares of the company’s stock, valued at approximately $609,715.92. 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 the stock. SG Americas Securities LLC acquired a new position in Zogenix in the third quarter valued at about $109,000. BlueMountain Capital Management LLC acquired a new position in Zogenix in the second quarter valued at about $104,000. FNY Investment Advisers LLC lifted its position in Zogenix by 3,900.0% in the third quarter. FNY Investment Advisers LLC now owns 3,000 shares of the company’s stock valued at $148,000 after buying an additional 2,925 shares during the last quarter. Prudential Financial Inc. acquired a new position in Zogenix in the third quarter valued at about $219,000. Finally, Public Employees Retirement Association of Colorado acquired a new position in Zogenix in the third quarter valued at about $226,000.

About Zogenix

Zogenix, Inc, a pharmaceutical company, develops and commercializes therapies for the treatment of central nervous system disorders in the United States. Its lead product candidate is the 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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Earnings History and Estimates for Zogenix (NASDAQ:ZGNX)

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