Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Zogenix from a hold rating to a sell rating in a research report on Saturday, January 19th. Guggenheim initiated coverage on shares of Zogenix in a report on Friday, February 22nd. They set a buy rating and a $70.00 price target for the company. Mizuho reiterated a buy rating and issued a $69.00 target price on shares of Zogenix in a research note on Thursday, December 6th. Finally, Northland Securities set a $70.00 target price on shares of Zogenix and gave the company a buy rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. Zogenix presently has an average rating of Buy and a consensus target price of $61.17.
NASDAQ:ZGNX traded down $0.32 during trading hours on Friday, hitting $36.17. 772,688 shares of the stock traded hands, compared to its average volume of 1,331,921. Zogenix has a fifty-two week low of $33.43 and a fifty-two week high of $62.75. The company has a market cap of $1.53 billion, a P/E ratio of -11.20 and a beta of 2.17.
In related news, Director Roger Hawley sold 20,700 shares of the business’s stock in a transaction on Friday, March 29th. The shares were sold at an average price of $55.00, for a total value of $1,138,500.00. Following the sale, the director now directly owns 15,575 shares of the company’s stock, valued at approximately $856,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cam L. Garner sold 5,625 shares of the business’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $50.00, for a total transaction of $281,250.00. Following the completion of the sale, the director now directly owns 4,756 shares in the company, valued at $237,800. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 131,483 shares of company stock worth $6,829,351. Insiders own 4.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Strs Ohio acquired a new position in shares of Zogenix during the 1st quarter worth about $55,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Zogenix by 20.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,956 shares of the company’s stock worth $108,000 after purchasing an additional 496 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Zogenix during the 3rd quarter worth about $109,000. Great West Life Assurance Co. Can increased its stake in shares of Zogenix by 44.9% during the 4th quarter. Great West Life Assurance Co. Can now owns 5,382 shares of the company’s stock worth $189,000 after purchasing an additional 1,668 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in Zogenix in the 3rd quarter valued at about $219,000.
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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