Northland Securities started coverage on shares of Zogenix (NASDAQ:ZGNX) in a research note released on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $70.00 target price on the stock.
Other research analysts have also recently issued research reports about the stock. BidaskClub raised shares of Zogenix from a buy rating to a strong-buy rating in a research report on Wednesday, June 20th. Mizuho reissued a buy rating and set a $69.00 price target on shares of Zogenix in a research report on Thursday, August 9th. Zacks Investment Research raised shares of Zogenix from a sell rating to a hold rating in a research report on Wednesday, June 6th. Stifel Nicolaus assumed coverage on shares of Zogenix in a research report on Wednesday, August 15th. They set a buy rating and a $69.00 price target on the stock. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Zogenix in a research report on Thursday, August 23rd. They set a buy rating and a $71.00 price target on the stock. Two analysts have rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $68.40.
Shares of ZGNX stock opened at $48.80 on Wednesday. The stock has a market cap of $1.73 billion, a PE ratio of -12.14 and a beta of 2.12. Zogenix has a twelve month low of $11.80 and a twelve month high of $62.75.
In related news, major shareholder Life Sciences Maste Perceptive bought 100,000 shares of the firm’s stock in a transaction on Friday, August 10th. The shares were bought at an average price of $52.00 per share, with a total value of $5,200,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gail M. Farfel sold 7,000 shares of the company’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $52.62, for a total transaction of $368,340.00. Following the completion of the transaction, the executive vice president now directly owns 14,143 shares in the company, valued at approximately $744,204.66. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ZGNX. SG Americas Securities LLC acquired a new position in Zogenix in the first quarter valued at about $100,000. BlueMountain Capital Management LLC purchased a new stake in Zogenix during the second quarter worth about $104,000. Meadow Creek Investment Management LLC purchased a new stake in Zogenix during the first quarter worth about $192,000. Amalgamated Bank purchased a new stake in Zogenix during the second quarter worth about $232,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Zogenix during the second quarter worth about $239,000.
Zogenix Company Profile
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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