Published On: Thu, Sep 15th, 2016

Zogenix Inc. (ZGNX) Stock Price Down 2.5%

Shares of Zogenix Inc. (NASDAQ:ZGNX) traded down 2.5% on Wednesday . The stock traded as low as $9.33 and last traded at $9.49, with a volume of 52,521 shares trading hands. The stock had previously closed at $9.73.
Separately, Zacks Investment Research raised Zogenix from a “sell” rating to a “hold” rating in a report on Saturday, August 13th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $22.75.
The company’s market capitalization is $234.27 million. The company’s 50-day moving average price is $9.24 and its 200 day moving average price is $9.48.

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Zogenix (NASDAQ:ZGNX) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.81) by $0.05. Zogenix had a negative net margin of 192.64% and a negative return on equity of 33.62%. The firm earned $2.10 million during the quarter, compared to analyst estimates of $5.36 million. During the same quarter in the prior year, the business posted ($3.78) earnings per share. The company’s quarterly revenue was down 71.6% compared to the same quarter last year. Analysts predict that Zogenix Inc. will post ($3.24) EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of ZGNX. Vanguard Group Inc. raised its position in Zogenix by 2.6% in the second quarter. Vanguard Group Inc. now owns 825,826 shares of the company’s stock valued at $6,648,000 after buying an additional 20,779 shares during the period. Lombard Odier Asset Management USA Corp raised its position in Zogenix by 2.8% in the second quarter. Lombard Odier Asset Management USA Corp now owns 651,418 shares of the company’s stock valued at $5,244,000 after buying an additional 17,916 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Zogenix by 3.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 576,020 shares of the company’s stock valued at $5,322,000 after buying an additional 17,665 shares during the period. State Street Corp raised its position in Zogenix by 8.3% in the second quarter. State Street Corp now owns 415,246 shares of the company’s stock valued at $3,340,000 after buying an additional 31,694 shares during the period. Finally, Landscape Capital Management L.L.C. raised its position in Zogenix by 56.4% in the second quarter. Landscape Capital Management L.L.C. now owns 243,595 shares of the company’s stock valued at $1,961,000 after buying an additional 87,890 shares during the period. 84.91% of the stock is owned by hedge funds and other institutional investors.
About Zogenix
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 in requirement of treatment alternatives. The Company’s areas of focus are epilepsy and schizophrenia.

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