Shares of Zogenix, Inc. (NASDAQ:ZGNX) have been given an average rating of “Buy” by the fifteen ratings firms that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $62.55.
Several research firms have recently issued reports on ZGNX. LADENBURG THALM/SH SH set a $50.00 price objective on Zogenix and gave the stock a “buy” rating in a research report on Tuesday. Guggenheim cut Zogenix from a “buy” rating to a “neutral” rating and set a $40.00 price objective for the company. in a research report on Tuesday. Piper Jaffray Companies lowered their price objective on Zogenix from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Tuesday. ValuEngine cut Zogenix from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, William Blair reaffirmed a “buy” rating on shares of Zogenix in a research report on Tuesday.
ZGNX traded down $0.20 on Friday, hitting $38.83. 9,917 shares of the company were exchanged, compared to its average volume of 1,207,582. Zogenix has a twelve month low of $33.43 and a twelve month high of $62.75. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -12.07 and a beta of 2.17.
In related news, Director Cam L. Garner sold 15,250 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.00, for a total value of $762,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cam L. Garner sold 5,625 shares of the company’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $50.00, for a total value of $281,250.00. Following the completion of the sale, the director now directly owns 4,756 shares of the company’s stock, valued at $237,800. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 131,483 shares of company stock valued at $6,829,351. Insiders own 4.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ZGNX. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Zogenix by 20.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,956 shares of the company’s stock valued at $108,000 after purchasing an additional 496 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Zogenix in the 3rd quarter valued at about $109,000. Great West Life Assurance Co. Can boosted its position in shares of Zogenix by 44.9% in the 4th quarter. Great West Life Assurance Co. Can now owns 5,382 shares of the company’s stock valued at $189,000 after purchasing an additional 1,668 shares during the period. Prudential Financial Inc. acquired a new stake in shares of Zogenix in the 3rd quarter valued at about $219,000. Finally, Amalgamated Bank acquired a new stake in shares of Zogenix in the 4th 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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