JPMorgan Chase & Co. raised its stake in Zogenix, Inc. (NASDAQ:ZGNX) by 1,794.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,299 shares of the company’s stock after acquiring an additional 271,186 shares during the period. JPMorgan Chase & Co. owned approximately 1.15% of Zogenix worth $4,152,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Zogenix in the 2nd quarter valued at $100,000. American International Group Inc. raised its holdings in Zogenix by 7.1% in the 1st quarter. American International Group Inc. now owns 15,278 shares of the company’s stock valued at $166,000 after acquiring an additional 1,010 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Zogenix in the 1st quarter valued at $185,000. Trexquant Investment LP acquired a new position in Zogenix in the 2nd quarter valued at $272,000. Finally, Nationwide Fund Advisors raised its holdings in Zogenix by 29.5% in the 1st quarter. Nationwide Fund Advisors now owns 18,748 shares of the company’s stock valued at $203,000 after acquiring an additional 4,266 shares in the last quarter. 87.21% of the stock is owned by hedge funds and other institutional investors.
Zogenix, Inc. (ZGNX) opened at 38.30 on Friday. The company’s market cap is $951.41 million. The stock has a 50 day moving average price of $17.73 and a 200 day moving average price of $13.83. Zogenix, Inc. has a 52 week low of $7.50 and a 52 week high of $41.65.
Zogenix (NASDAQ:ZGNX) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.89) by ($0.01). Zogenix had a negative return on equity of 70.75% and a negative net margin of 309.76%. The business had revenue of $7.10 million during the quarter, compared to analysts’ expectations of $3.48 million. During the same quarter last year, the business posted ($0.76) EPS. The company’s quarterly revenue was up 238.1% on a year-over-year basis. On average, equities analysts forecast that Zogenix, Inc. will post ($3.62) earnings per share for the current year.
Several equities analysts have weighed in on the company. BidaskClub cut Zogenix from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. ValuEngine cut Zogenix from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Mizuho reaffirmed a “buy” rating and issued a $51.00 price objective (up from $28.00) on shares of Zogenix in a report on Friday, September 29th. Zacks Investment Research lowered Zogenix from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Leerink Swann reiterated an “outperform” rating and issued a $50.00 price target (up previously from $20.00) on shares of Zogenix in a research note on Monday, October 2nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Zogenix presently has an average rating of “Buy” and an average target price of $40.00.
In other news, major shareholder Life Sciences Maste Perceptive purchased 300,000 shares of the stock in a transaction on Tuesday, October 3rd. The shares were acquired at an average price of $37.50 per share, for a total transaction of $11,250,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.00% of the company’s stock.
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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