Zogenix Sees Unusually Large Options Volume (ZGNX)

Zogenix, Inc. (NASDAQ:ZGNX) saw some unusual options trading on Monday. Investors acquired 2,134 put options on the company. This represents an increase of 2,568% compared to the typical volume of 80 put options.

A number of analysts recently commented on the company. BidaskClub lowered Zogenix from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. B. Riley assumed coverage on Zogenix in a research report on Friday, September 7th. They issued a “buy” rating and a $116.00 price objective for the company. Leerink Swann set a $93.00 price objective on Zogenix and gave the stock a “buy” rating in a research report on Saturday. Stifel Nicolaus assumed coverage on Zogenix in a research report on Wednesday, August 15th. They issued a “buy” rating and a $69.00 price objective for the company. Finally, Mizuho reiterated a “buy” rating and issued a $69.00 price objective on shares of Zogenix in a research report on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $72.30.

Shares of ZGNX opened at $42.49 on Tuesday. Zogenix has a 1 year low of $32.40 and a 1 year high of $62.75. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -10.57 and a beta of 2.13.

Zogenix (NASDAQ:ZGNX) last issued its earnings results on Monday, August 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.88) by $0.06. During the same period in the prior year, the firm posted ($0.90) EPS. On average, sell-side analysts expect that Zogenix will post -3.7 EPS for the current year.

In other news, major shareholder Life Sciences Maste Perceptive acquired 100,000 shares of the stock in a transaction that occurred on Friday, August 10th. The stock was purchased at an average cost of $52.00 per share, for a total transaction of $5,200,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gail M. Farfel sold 7,000 shares of Zogenix stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $52.62, for a total value of $368,340.00. Following the completion of the sale, the executive vice president now owns 14,143 shares of the company’s stock, valued at $744,204.66. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Fox Run Management L.L.C. bought a new position in shares of Zogenix during the 3rd quarter valued at about $366,000. Rhenman & Partners Asset Management AB lifted its holdings in shares of Zogenix by 20.0% during the 3rd quarter. Rhenman & Partners Asset Management AB now owns 60,000 shares of the company’s stock valued at $2,976,000 after purchasing an additional 10,000 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Zogenix by 5.5% during the 2nd quarter. Northern Trust Corp now owns 468,074 shares of the company’s stock valued at $20,689,000 after purchasing an additional 24,338 shares in the last quarter. 683 Capital Management LLC bought a new position in shares of Zogenix during the 2nd quarter valued at about $2,210,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Zogenix by 761.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,534,645 shares of the company’s stock valued at $67,831,000 after purchasing an additional 1,356,428 shares in the last quarter.

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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