State of Wisconsin Investment Board bought a new stake in shares of Zogenix, Inc. (NASDAQ:ZGNX) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 19,000 shares of the company’s stock, valued at approximately $275,000. State of Wisconsin Investment Board owned approximately 0.08% of Zogenix at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Perceptive Advisors LLC raised its stake in Zogenix by 192.6% during the 1st quarter. Perceptive Advisors LLC now owns 2,203,302 shares of the company’s stock valued at $23,906,000 after acquiring an additional 1,450,303 shares in the last quarter. Kennedy Capital Management Inc. raised its stake in Zogenix by 44.9% during the 1st quarter. Kennedy Capital Management Inc. now owns 1,052,990 shares of the company’s stock valued at $11,425,000 after acquiring an additional 326,196 shares in the last quarter. Vanguard Group Inc. raised its stake in Zogenix by 7.8% during the 1st quarter. Vanguard Group Inc. now owns 974,948 shares of the company’s stock valued at $10,578,000 after acquiring an additional 70,617 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Zogenix by 0.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 878,998 shares of the company’s stock valued at $9,537,000 after acquiring an additional 5,415 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Zogenix by 89.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 410,641 shares of the company’s stock valued at $4,455,000 after acquiring an additional 193,827 shares in the last quarter. 87.15% of the stock is currently owned by hedge funds and other institutional investors.
Zogenix, Inc. (NASDAQ ZGNX) opened at 14.25 on Friday. The stock’s 50 day moving average price is $12.66 and its 200 day moving average price is $12.38. The firm’s market capitalization is $353.98 million. Zogenix, Inc. has a 12 month low of $7.50 and a 12 month high of $16.50.
Zogenix (NASDAQ:ZGNX) last announced its earnings results on Tuesday, August 8th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.01). The business had revenue of $7.10 million during the quarter, compared to analyst estimates of $3.48 million. Zogenix had a negative return on equity of 70.75% and a negative net margin of 309.76%. The firm’s revenue was up 238.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.76) earnings per share. Equities research analysts expect that Zogenix, Inc. will post ($3.69) earnings per share for the current fiscal year.
Several analysts have weighed in on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 target price on shares of Zogenix in a research note on Monday, June 26th. Mizuho assumed coverage on Zogenix in a research note on Wednesday, September 6th. They set a “buy” rating and a $28.00 target price on the stock. Zacks Investment Research raised Zogenix from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Friday, July 7th. BidaskClub downgraded Zogenix from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, ValuEngine raised Zogenix from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $23.83.
In other Zogenix news, major shareholder Life Sciences Maste Perceptive bought 175,653 shares of Zogenix stock in a transaction dated Friday, June 30th. The shares were acquired at an average cost of $14.45 per share, with a total value of $2,538,185.85. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 5.00% of the stock is owned by insiders.
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Zogenix Company Profile
Zogenix, Inc is a pharmaceutical company engaged in developing and commercializing central nervous system (CNS) therapies that address specific clinical needs for people living with orphan and other CNS disorders. Its primary area of therapeutic focus is epilepsy and related seizure disorders. Its lead product candidate, ZX008, is a low-dose fenfluramine for the treatment of seizures associated with Dravet syndrome.
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