Zogenix, Inc. (NASDAQ:ZGNX) Expected to Announce Earnings of -$1.05 Per Share

Analysts expect Zogenix, Inc. (NASDAQ:ZGNX) to report ($1.05) earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have issued estimates for Zogenix’s earnings, with the highest EPS estimate coming in at ($0.89) and the lowest estimate coming in at ($1.18). Zogenix reported earnings per share of ($0.53) in the same quarter last year, which indicates a negative year over year growth rate of 98.1%. The company is scheduled to announce its next quarterly earnings results on Thursday, February 27th.

On average, analysts expect that Zogenix will report full-year earnings of ($9.50) per share for the current fiscal year, with EPS estimates ranging from ($9.65) to ($9.36). For the next fiscal year, analysts expect that the business will report earnings of ($3.41) per share, with EPS estimates ranging from ($5.03) to ($2.03). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow Zogenix.

Zogenix (NASDAQ:ZGNX) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($6.75) EPS for the quarter, missing analysts’ consensus estimates of ($1.05) by ($5.70). The firm had revenue of $0.63 million for the quarter, compared to the consensus estimate of $0.39 million. During the same quarter in the previous year, the business posted ($1.08) EPS.

ZGNX has been the subject of a number of analyst reports. JMP Securities set a $69.00 price objective on shares of Zogenix and gave the company a “buy” rating in a research note on Thursday, September 26th. Mizuho reiterated a “buy” rating and issued a $65.00 price target on shares of Zogenix in a research note on Tuesday, December 10th. BidaskClub upgraded shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Piper Jaffray Companies reiterated a “buy” rating and issued a $64.00 price target on shares of Zogenix in a research note on Friday, December 6th. Finally, ValuEngine lowered shares of Zogenix from a “buy” rating to a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Zogenix has an average rating of “Buy” and a consensus target price of $59.70.

In related news, Director James B. Breitmeyer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the transaction, the director now owns 6,250 shares of the company’s stock, valued at $312,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Stephen J. Farr sold 34,225 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $51.89, for a total transaction of $1,775,935.25. The disclosure for this sale can be found here. Insiders sold 115,950 shares of company stock valued at $5,872,460 over the last quarter. Company insiders own 4.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Zogenix during the first quarter valued at $193,000. Advisor Group Inc. increased its holdings in shares of Zogenix by 383.1% during the second quarter. Advisor Group Inc. now owns 942 shares of the company’s stock valued at $45,000 after acquiring an additional 747 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in shares of Zogenix during the second quarter valued at about $116,000. Bank of Montreal Can increased its holdings in shares of Zogenix by 1,388.3% during the second quarter. Bank of Montreal Can now owns 3,825 shares of the company’s stock valued at $183,000 after acquiring an additional 3,568 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Zogenix by 3.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 248,540 shares of the company’s stock valued at $11,876,000 after acquiring an additional 8,207 shares in the last quarter.

Shares of ZGNX stock traded up $1.70 during trading on Friday, reaching $56.26. 223,293 shares of the company’s stock traded hands, compared to its average volume of 466,242. The company has a market capitalization of $2.44 billion, a P/E ratio of -17.42 and a beta of 2.00. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average is $50.52 and its 200 day moving average is $46.56. Zogenix has a 1 year low of $35.25 and a 1 year high of $56.50.

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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Earnings History and Estimates for Zogenix (NASDAQ:ZGNX)

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