Zogenix (ZGNX) Downgraded by BidaskClub

BidaskClub downgraded shares of Zogenix (NASDAQ:ZGNX) from a hold rating to a sell rating in a report issued on Tuesday, BidAskClub reports.

A number of other research analysts also recently commented on ZGNX. Mizuho reissued a buy rating and set a $69.00 target price on shares of Zogenix in a research report on Wednesday, February 6th. Northland Securities set a $70.00 target price on shares of Zogenix and gave the company a buy rating in a research report on Friday, April 5th. Guggenheim began coverage on shares of Zogenix in a research report on Friday, February 22nd. They set a buy rating and a $70.00 target price on the stock. William Blair reissued a buy rating on shares of Zogenix in a research report on Tuesday, April 9th. Finally, Stifel Nicolaus cut their target price on shares of Zogenix from $72.00 to $61.00 and set a buy rating on the stock in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $61.17.

ZGNX stock opened at $36.17 on Tuesday. The stock has a market capitalization of $1.53 billion, a P/E ratio of -11.20 and a beta of 2.17. Zogenix has a 12 month low of $33.43 and a 12 month high of $62.75.

Zogenix (NASDAQ:ZGNX) last posted its quarterly earnings results on Thursday, February 28th. The company reported ($0.53) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.97) by $0.44. As a group, analysts forecast that Zogenix will post -3.66 earnings per share for the current fiscal year.

In other news, Director Renee P. Tannenbaum sold 17,503 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $50.65, for a total value of $886,526.95. Following the sale, the director now directly owns 19,375 shares in the company, valued at approximately $981,343.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roger Hawley sold 60,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $52.99, for a total transaction of $3,179,400.00. Following the completion of the sale, the director now owns 49,364 shares in the company, valued at $2,615,798.36. The disclosure for this sale can be found here. Insiders sold a total of 131,483 shares of company stock worth $6,829,351 over the last 90 days. Company insiders own 4.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in shares of Zogenix in the 1st quarter valued at about $55,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Zogenix by 20.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,956 shares of the company’s stock valued at $108,000 after buying an additional 496 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Zogenix in the 3rd quarter valued at about $109,000. Great West Life Assurance Co. Can boosted its holdings in shares of Zogenix by 44.9% in the 4th quarter. Great West Life Assurance Co. Can now owns 5,382 shares of the company’s stock valued at $189,000 after buying an additional 1,668 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Zogenix in the 3rd quarter valued at about $219,000.

Zogenix Company Profile

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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Analyst Recommendations for Zogenix (NASDAQ:ZGNX)

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