Zogenix, Inc. (NASDAQ:ZGNX) Director Mark C. Wiggins Sells 6,250 Shares

Zogenix, Inc. (NASDAQ:ZGNX) Director Mark C. Wiggins sold 6,250 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $50.00, for a total value of $312,500.00. Following the transaction, the director now owns 6,250 shares in the company, valued at $312,500. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

NASDAQ ZGNX traded down $0.37 during trading hours on Monday, hitting $49.61. The company had a trading volume of 263,471 shares, compared to its average volume of 606,700. Zogenix, Inc. has a 52 week low of $33.43 and a 52 week high of $56.50. The company’s 50 day moving average is $47.59. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.19 and a quick ratio of 9.12. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -15.36 and a beta of 1.92.

Zogenix (NASDAQ:ZGNX) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.06). The business had revenue of $1.07 million during the quarter, compared to analysts’ expectations of $15.00 million. During the same quarter in the prior year, the firm posted ($0.83) earnings per share. Sell-side analysts forecast that Zogenix, Inc. will post -3.76 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its holdings in shares of Zogenix by 13.0% in the 4th quarter. Legal & General Group Plc now owns 7,848 shares of the company’s stock valued at $286,000 after acquiring an additional 900 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Zogenix by 102.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 470,460 shares of the company’s stock valued at $17,152,000 after acquiring an additional 238,002 shares in the last quarter. Atika Capital Management LLC raised its holdings in shares of Zogenix by 90.0% in the 1st quarter. Atika Capital Management LLC now owns 76,000 shares of the company’s stock valued at $4,181,000 after acquiring an additional 36,000 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Zogenix in the 1st quarter valued at about $7,575,000. Finally, Parametrica Management Ltd purchased a new stake in shares of Zogenix in the 1st quarter valued at about $222,000.

A number of equities analysts have issued reports on the company. Mizuho increased their price target on Zogenix from $58.00 to $65.00 and gave the stock a “positive” rating in a report on Friday, June 28th. Stifel Nicolaus set a $71.00 target price on Zogenix and gave the stock a “buy” rating in a research report on Wednesday, August 7th. BidaskClub raised Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th. ValuEngine raised Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Finally, Guggenheim raised Zogenix from a “neutral” rating to a “buy” rating and upped their target price for the stock from $40.00 to $64.00 in a research report on Thursday, June 27th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Zogenix presently has a consensus rating of “Buy” and an average target price of $63.55.

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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