First Midwest Bank Trust Division purchased a new position in shares of Zogenix, Inc. (NASDAQ:ZGNX) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,250 shares of the company’s stock, valued at approximately $346,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Zogenix in the first quarter worth $193,000. FMR LLC grew its holdings in shares of Zogenix by 12.5% in the first quarter. FMR LLC now owns 4,708,960 shares of the company’s stock worth $259,040,000 after acquiring an additional 524,829 shares during the period. Marshall Wace LLP grew its holdings in shares of Zogenix by 321.4% in the first quarter. Marshall Wace LLP now owns 564,721 shares of the company’s stock worth $31,065,000 after acquiring an additional 430,698 shares during the period. Atika Capital Management LLC grew its holdings in shares of Zogenix by 90.0% in the first quarter. Atika Capital Management LLC now owns 76,000 shares of the company’s stock worth $4,181,000 after acquiring an additional 36,000 shares during the period. Finally, Botty Investors LLC bought a new stake in shares of Zogenix in the first quarter worth $55,000.
Shares of Zogenix stock opened at $48.50 on Friday. The firm has a 50-day simple moving average of $45.69. Zogenix, Inc. has a 52 week low of $33.43 and a 52 week high of $56.90. The stock has a market capitalization of $2.09 billion, a P/E ratio of -15.02 and a beta of 2.04. The company has a quick ratio of 9.12, a current ratio of 9.12 and a debt-to-equity ratio of 0.02.
Several analysts recently commented on the company. William Blair reaffirmed a “buy” rating on shares of Zogenix in a report on Tuesday, April 9th. LADENBURG THALM/SH SH set a $50.00 price objective on Zogenix and gave the stock a “buy” rating in a report on Tuesday, April 9th. Mizuho boosted their price target on Zogenix from $58.00 to $65.00 and gave the company a “positive” rating in a report on Friday, June 28th. Northland Securities reissued a “buy” rating and set a $60.00 price target on shares of Zogenix in a report on Monday, July 8th. Finally, Guggenheim raised Zogenix from a “neutral” rating to a “buy” rating and boosted their price target for the company from $40.00 to $64.00 in a report on Thursday, June 27th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $62.64.
In related news, insider Stephen J. Farr sold 34,225 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $48.01, for a total value of $1,643,142.25. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael P. Smith sold 15,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $46.32, for a total value of $694,800.00. The disclosure for this sale can be found here. 4.40% of the stock is owned by insiders.
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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