Zogenix (NASDAQ:ZGNX) Downgraded by BidaskClub to Hold

BidaskClub lowered shares of Zogenix (NASDAQ:ZGNX) from a buy rating to a hold rating in a report issued on Tuesday, BidAskClub reports.

Several other equities research analysts have also recently weighed in on the company. Needham & Company LLC reaffirmed a buy rating and issued a $54.00 price target (down from $58.00) on shares of Zogenix in a research note on Friday, February 7th. Zacks Investment Research reissued a buy rating and issued a $63.00 target price on shares of Zogenix in a research note on Saturday, January 25th. Northland Securities reissued a buy rating on shares of Zogenix in a research note on Monday, November 25th. ValuEngine raised Zogenix from a buy rating to a strong-buy rating in a research note on Monday, February 10th. Finally, LADENBURG THALM/SH SH cut Zogenix from a buy rating to a neutral rating and cut their target price for the stock from $60.00 to $35.00 in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $59.55.

Shares of ZGNX stock opened at $32.18 on Tuesday. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -3.58 and a beta of 2.01. The business’s fifty day moving average is $49.20 and its 200 day moving average is $46.45. Zogenix has a twelve month low of $29.41 and a twelve month high of $57.22. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.04.

In other news, CEO Stephen J. Farr sold 34,225 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $51.89, for a total value of $1,775,935.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael P. Smith sold 22,500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $51.79, for a total value of $1,165,275.00. Following the completion of the sale, the chief financial officer now directly owns 23,887 shares in the company, valued at $1,237,107.73. The disclosure for this sale can be found here. Over the last three months, insiders sold 115,950 shares of company stock worth $5,872,460. Insiders own 4.40% of the company’s stock.

Several large investors have recently made changes to their positions in the company. United Services Automobile Association lifted its holdings in shares of Zogenix by 6.0% during the second quarter. United Services Automobile Association now owns 6,376 shares of the company’s stock valued at $305,000 after purchasing an additional 362 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in shares of Zogenix by 5.0% during the third quarter. Metropolitan Life Insurance Co NY now owns 13,985 shares of the company’s stock valued at $560,000 after purchasing an additional 666 shares in the last quarter. Strs Ohio bought a new position in shares of Zogenix during the fourth quarter valued at $36,000. California State Teachers Retirement System lifted its holdings in shares of Zogenix by 1.2% during the third quarter. California State Teachers Retirement System now owns 66,468 shares of the company’s stock valued at $2,661,000 after purchasing an additional 794 shares in the last quarter. Finally, Atria Investments LLC lifted its holdings in shares of Zogenix by 12.1% during the fourth quarter. Atria Investments LLC now owns 7,751 shares of the company’s stock valued at $404,000 after purchasing an additional 836 shares in the last quarter.

About Zogenix

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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Analyst Recommendations for Zogenix (NASDAQ:ZGNX)

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