Zacks: Analysts Expect Zogenix, Inc. (NASDAQ:ZGNX) to Announce -$0.98 EPS

Analysts expect Zogenix, Inc. (NASDAQ:ZGNX) to announce earnings of ($0.98) per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Zogenix’s earnings, with the highest EPS estimate coming in at ($0.79) and the lowest estimate coming in at ($1.15). Zogenix posted earnings per share of ($0.70) in the same quarter last year, which indicates a negative year over year growth rate of 40%. The company is expected to announce its next earnings results on Tuesday, May 4th.

On average, analysts expect that Zogenix will report full year earnings of ($3.28) per share for the current year, with EPS estimates ranging from ($4.31) to ($2.40). For the next financial year, analysts forecast that the business will post earnings of ($1.80) per share, with EPS estimates ranging from ($3.85) to ($0.57). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Zogenix.

Zogenix (NASDAQ:ZGNX) last announced its quarterly earnings data on Thursday, February 25th. The company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.21). The firm had revenue of $8.50 million for the quarter, compared to analysts’ expectations of $9.00 million. Zogenix had a negative net margin of 8,758.48% and a negative return on equity of 53.91%.

Separately, Zacks Investment Research upgraded Zogenix from a “sell” rating to a “hold” rating in a research note on Friday, April 16th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $50.60.

NASDAQ:ZGNX traded up $0.07 during mid-day trading on Friday, reaching $19.02. The company’s stock had a trading volume of 18,172 shares, compared to its average volume of 824,268. Zogenix has a 12-month low of $17.20 and a 12-month high of $32.42. The firm’s fifty day moving average price is $19.84 and its two-hundred day moving average price is $20.43. The stock has a market cap of $1.06 billion, a P/E ratio of -2.02 and a beta of 1.60.

Large investors have recently made changes to their positions in the company. Penserra Capital Management LLC grew its holdings in Zogenix by 169.0% during the fourth quarter. Penserra Capital Management LLC now owns 1,275 shares of the company’s stock worth $25,000 after acquiring an additional 801 shares during the period. Cutler Group LP lifted its position in Zogenix by 125.0% during the fourth quarter. Cutler Group LP now owns 1,800 shares of the company’s stock worth $35,000 after buying an additional 8,986 shares in the last quarter. Veriti Management LLC purchased a new position in Zogenix during the fourth quarter worth approximately $55,000. Exane Derivatives lifted its position in Zogenix by 29.1% during the fourth quarter. Exane Derivatives now owns 5,374 shares of the company’s stock worth $107,000 after buying an additional 1,210 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in Zogenix in the first quarter valued at $193,000. Hedge funds and other institutional investors own 96.57% of the company’s stock.

Zogenix Company Profile

Zogenix, Inc, a biopharmaceutical company, develops and commercializes therapies to transform the lives of patients and their families living with rare diseases in the United States. The company's lead product candidate is the Fintepla, a low-dose fenfluramine, which is in Phase III clinical trials for the treatment of seizures associated with Dravet syndrome, as well as to treat seizures associated with Lennox-Gastaut syndrome; and that is in Phase II clinical trials for the treatment of other rare epileptic syndromes and diseases.

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Earnings History and Estimates for Zogenix (NASDAQ:ZGNX)

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