Zogenix, Inc. (NASDAQ:ZGNX) – Analysts at William Blair increased their Q1 2018 earnings per share estimates for Zogenix in a research note issued to investors on Wednesday, according to Zacks Investment Research. William Blair analyst T. Lugo now anticipates that the company will post earnings of ($0.78) per share for the quarter, up from their previous estimate of ($0.97). William Blair also issued estimates for Zogenix’s Q2 2018 earnings at ($0.79) EPS, Q3 2018 earnings at ($0.76) EPS, Q4 2018 earnings at ($0.81) EPS, FY2018 earnings at ($3.13) EPS, FY2019 earnings at ($3.43) EPS and FY2020 earnings at ($1.71) EPS.
Zogenix (NASDAQ:ZGNX) last issued its quarterly earnings data on Tuesday, March 6th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.97) by ($0.17). During the same quarter in the previous year, the business posted ($0.95) EPS.
A number of other brokerages have also recently issued reports on ZGNX. BidaskClub upgraded shares of Zogenix from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. ValuEngine upgraded shares of Zogenix from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of Zogenix from a “sell” rating to a “hold” rating in a report on Saturday, January 27th. Mizuho reiterated a “buy” rating and issued a $51.00 price target on shares of Zogenix in a report on Thursday, December 7th. Finally, Leerink Swann upped their price target on shares of Zogenix from $50.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $53.20.
NASDAQ ZGNX traded down $2.40 during trading on Friday, reaching $37.65. 582,870 shares of the stock traded hands, compared to its average volume of 567,706. The stock has a market cap of $1,371.81, a P/E ratio of -9.37 and a beta of 1.68. Zogenix has a fifty-two week low of $10.05 and a fifty-two week high of $45.85.
In other news, Director Roger Hawley sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $44.71, for a total value of $1,564,850.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.60% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. MetLife Investment Advisors LLC bought a new stake in shares of Zogenix in the fourth quarter worth $670,000. Endurant Capital Management LP bought a new stake in shares of Zogenix in the fourth quarter worth $801,000. Kazazian Asset Management LLC lifted its position in shares of Zogenix by 11.6% in the fourth quarter. Kazazian Asset Management LLC now owns 16,268 shares of the company’s stock worth $652,000 after purchasing an additional 1,686 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Zogenix by 46.7% in the fourth quarter. TIAA CREF Investment Management LLC now owns 93,855 shares of the company’s stock worth $3,759,000 after purchasing an additional 29,886 shares in the last quarter. Finally, Teachers Advisors LLC lifted its position in shares of Zogenix by 50.0% in the fourth quarter. Teachers Advisors LLC now owns 62,199 shares of the company’s stock worth $2,491,000 after purchasing an additional 20,721 shares in the last quarter.
Zogenix Company Profile
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. Its primary area of therapeutic focus is epilepsy and related seizure disorders. Its lead product candidate, ZX008, is a low-dose fenfluramine for the treatment of seizures associated with Dravet syndrome.
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