Zogenix, Inc. (NASDAQ:ZGNX) Expected to Post Quarterly Sales of $1.40 Million

Analysts expect Zogenix, Inc. (NASDAQ:ZGNX) to report sales of $1.40 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Zogenix’s earnings, with estimates ranging from $500,000.00 to $2.30 million. The company is expected to report its next earnings report on Thursday, February 27th.

According to Zacks, analysts expect that Zogenix will report full-year sales of $2.26 million for the current year, with estimates ranging from $1.70 million to $4.00 million. For the next financial year, analysts expect that the firm will report sales of $51.76 million, with estimates ranging from $10.00 million to $93.10 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Zogenix.

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

Several research firms have recently issued reports on ZGNX. ValuEngine downgraded shares of Zogenix from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 28th. Mizuho set a $65.00 price objective on shares of Zogenix and gave the company a “buy” rating in a report on Monday, October 21st. Piper Jaffray Companies set a $64.00 price objective on shares of Zogenix and gave the company a “buy” rating in a report on Monday, August 26th. Stifel Nicolaus set a $71.00 price target on shares of Zogenix and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, JMP Securities set a $69.00 price target on shares of Zogenix and gave the stock a “buy” rating in a report on Thursday, September 26th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $59.70.

Shares of ZGNX traded up $0.55 during mid-day trading on Friday, hitting $46.79. 484,123 shares of the company traded hands, compared to its average volume of 559,513. Zogenix has a 1-year low of $33.43 and a 1-year high of $56.50. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.07 billion, a PE ratio of -14.49 and a beta of 1.97. The business has a 50 day moving average of $45.20 and a 200 day moving average of $44.06.

In other news, CEO Stephen J. Farr sold 34,225 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 transaction of $1,711,250.00. Following the sale, the chief executive officer now owns 90,752 shares of the company’s stock, valued at approximately $4,537,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael P. Smith sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $48.00, for a total transaction of $720,000.00. Following the sale, the chief financial officer now directly owns 16,387 shares in the company, valued at approximately $786,576. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,225 shares of company stock worth $2,681,250. 4.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Inc. grew its stake in shares of Zogenix by 383.1% during the 2nd quarter. Advisor Group Inc. now owns 942 shares of the company’s stock worth $45,000 after purchasing an additional 747 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Zogenix during the 2nd quarter worth approximately $61,000. Tower Research Capital LLC TRC acquired a new stake in shares of Zogenix during the 2nd quarter worth approximately $76,000. Russell Investments Group Ltd. acquired a new stake in shares of Zogenix during the 3rd quarter worth approximately $80,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Zogenix during the 2nd quarter worth approximately $116,000.

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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Earnings History and Estimates for Zogenix (NASDAQ:ZGNX)

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