Zogenix (NASDAQ:ZGNX) Reaches New 1-Year High at $56.50

Zogenix, Inc. (NASDAQ:ZGNX)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $56.50 and last traded at $56.43, with a volume of 282126 shares. The stock had previously closed at $54.56.

A number of research analysts recently weighed in on ZGNX shares. Mizuho reiterated a “buy” rating and issued a $65.00 price objective on shares of Zogenix in a research note on Tuesday, December 10th. Northland Securities reissued a “buy” rating on shares of Zogenix in a research note on Monday, November 25th. BidaskClub raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Needham & Company LLC reissued a “buy” rating and issued a $58.00 price target on shares of Zogenix in a research note on Tuesday, December 10th. Finally, Zacks Investment Research raised shares of Zogenix from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $59.70.

The firm has a 50 day moving average of $50.52 and a two-hundred day moving average of $46.56. The stock has a market cap of $2.44 billion, a P/E ratio of -17.58 and a beta of 2.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.00 and a current ratio of 3.00.

Zogenix (NASDAQ:ZGNX) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($6.75) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.05) by ($5.70). The firm had revenue of $0.63 million for the quarter, compared to the consensus estimate of $0.39 million. During the same period in the prior year, the firm posted ($1.08) EPS. On average, sell-side analysts anticipate that Zogenix, Inc. will post -3.73 EPS for the current fiscal year.

In other Zogenix news, CFO Michael P. Smith sold 15,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $48.00, for a total value of $720,000.00. Following the completion of the transaction, the chief financial officer now directly owns 16,387 shares of the company’s stock, valued at approximately $786,576. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James B. Breitmeyer sold 5,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the transaction, the director now directly owns 6,250 shares of the company’s stock, valued at $312,500. The disclosure for this sale can be found here. Insiders sold a total of 115,950 shares of company stock valued at $5,872,460 over the last quarter. 4.40% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of ZGNX. Point72 Hong Kong Ltd bought a new stake in shares of Zogenix during the 2nd quarter worth $61,000. Tower Research Capital LLC TRC purchased a new position in shares of Zogenix in the second quarter valued at about $76,000. Russell Investments Group Ltd. purchased a new position in shares of Zogenix in the third quarter valued at about $80,000. Nisa Investment Advisors LLC increased its position in shares of Zogenix by 1,700.0% in the third quarter. Nisa Investment Advisors LLC now owns 4,140 shares of the company’s stock valued at $166,000 after acquiring an additional 3,910 shares during the period. Finally, Bank of Montreal Can increased its position in shares of Zogenix by 1,388.3% in the second quarter. Bank of Montreal Can now owns 3,825 shares of the company’s stock valued at $183,000 after acquiring an additional 3,568 shares during the period.

About Zogenix (NASDAQ:ZGNX)

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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