Zogenix (NASDAQ:ZGNX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, Zacks.com reports.
According to Zacks, “Zogenix is a specialty biopharmaceutical company focused on developing therapies for patients with rare central nervous system conditions that have limited or no treatment options. The company is currently pursuing two therapies targeting the Dravet Syndrome and the Lennox-Gastaut Syndrome. “
ZGNX has been the subject of several other research reports. SVB Leerink decreased their target price on Zogenix from $37.00 to $32.00 and set an “outperform” rating for the company in a research report on Monday, December 20th. Guggenheim downgraded Zogenix from a “buy” rating to a “neutral” rating in a research report on Wednesday. JMP Securities downgraded Zogenix from an “outperform” rating to a “market perform” rating in a research report on Wednesday. William Blair downgraded Zogenix from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Needham & Company LLC downgraded Zogenix from a “buy” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Zogenix has a consensus rating of “Hold” and an average price target of $32.10.
Shares of NASDAQ:ZGNX opened at $26.00 on Friday. The firm has a market capitalization of $1.46 billion, a PE ratio of -5.98 and a beta of 1.28. The company has a debt-to-equity ratio of 0.69, a current ratio of 4.79 and a quick ratio of 4.74. The business has a 50-day moving average of $14.85 and a two-hundred day moving average of $15.33. Zogenix has a 12 month low of $11.03 and a 12 month high of $26.57.
Zogenix (NASDAQ:ZGNX) last announced its quarterly earnings results on Thursday, November 4th. The company reported ($1.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.96) by ($0.08). The firm had revenue of $22.61 million for the quarter, compared to analyst estimates of $22.71 million. Zogenix had a negative return on equity of 80.20% and a negative net margin of 381.69%. The business’s revenue was up 690.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.02) earnings per share. As a group, research analysts anticipate that Zogenix will post -3.88 earnings per share for the current year.
In other Zogenix news, Director Renee P. Tannenbaum sold 5,305 shares of the company’s stock in a transaction that occurred on Monday, November 29th. The stock was sold at an average price of $11.72, for a total transaction of $62,174.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in Zogenix in the 2nd quarter valued at approximately $33,000. Nisa Investment Advisors LLC increased its position in Zogenix by 81.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,296 shares of the company’s stock valued at $80,000 after acquiring an additional 2,376 shares during the period. Royal Bank of Canada increased its position in Zogenix by 18.5% in the 2nd quarter. Royal Bank of Canada now owns 5,473 shares of the company’s stock valued at $94,000 after acquiring an additional 855 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in Zogenix in the 1st quarter valued at approximately $193,000. Finally, Versor Investments LP acquired a new stake in Zogenix in the 3rd quarter valued at approximately $208,000.
Zogenix Company Profile
Zogenix, Inc is a pharmaceutical company. The firm engages in the development and commercialization of central nervous system (CNS) therapies and products for the treatment orphan diseases and other CNS disorders. Its products include Fintepla and MT1621. The company was founded by Stephen James Farr, Cam L.