Sanders Morris Harris LLC acquired a new stake in Zogenix, Inc. (NASDAQ:ZGNX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,420 shares of the company’s stock, valued at approximately $232,000.
Other institutional investors have also recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. bought a new position in shares of Zogenix during the first quarter valued at about $193,000. US Bancorp DE lifted its holdings in Zogenix by 2,196.6% in the first quarter. US Bancorp DE now owns 1,332 shares of the company’s stock worth $32,000 after buying an additional 1,274 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Zogenix by 149.2% in the first quarter. BNP Paribas Arbitrage SA now owns 13,715 shares of the company’s stock worth $339,000 after buying an additional 8,212 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in Zogenix by 90.2% in the first quarter. Parametric Portfolio Associates LLC now owns 62,161 shares of the company’s stock worth $1,537,000 after buying an additional 29,473 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in Zogenix by 180.8% in the first quarter. Nuveen Asset Management LLC now owns 592,625 shares of the company’s stock worth $14,656,000 after buying an additional 381,599 shares during the period. Institutional investors and hedge funds own 96.57% of the company’s stock.
ZGNX stock traded up $0.78 during midday trading on Friday, hitting $20.40. 1,741,748 shares of the stock traded hands, compared to its average volume of 1,141,690. The firm has a market cap of $1.13 billion, a P/E ratio of -2.15 and a beta of 1.60. The stock’s fifty day simple moving average is $21.19 and its 200-day simple moving average is $25.38. Zogenix, Inc. has a 1-year low of $16.65 and a 1-year high of $57.22.
Zogenix (NASDAQ:ZGNX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.96) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.02) by $0.06. The business had revenue of $1.03 million for the quarter, compared to the consensus estimate of $1.10 million. Zogenix had a negative net margin of 8,758.48% and a negative return on equity of 53.91%. Sell-side analysts anticipate that Zogenix, Inc. will post -3.62 EPS for the current year.
Several analysts have commented on the stock. Raymond James began coverage on shares of Zogenix in a report on Monday, August 24th. They issued a “market perform” rating for the company. Needham & Company LLC reduced their price target on shares of Zogenix from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, June 26th. William Blair reissued a “buy” rating on shares of Zogenix in a research report on Friday, June 26th. BidaskClub raised shares of Zogenix from a “strong sell” rating to a “sell” rating in a research report on Friday. Finally, Northland Securities reaffirmed a “buy” rating and issued a $65.00 target price on shares of Zogenix in a research report on Thursday, August 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $49.78.
Zogenix, Inc, a pharmaceutical company, develops and commercializes transformative therapies to enhance the lives of patients and their families living with rare diseases in the United States. The company's lead product candidate is the Fintepla, a low-dose fenfluramine, which is in Phase III clinical trials for the treatment of seizures associated with Dravet syndrome and Lennox-Gastaut syndrome (LGS); and which is in Phase II clinical trials for the treatment of other rare epileptic syndromes and diseases.
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