Zogenix’s (ZGNX) Buy Rating Reiterated at Mizuho

Mizuho restated their buy rating on shares of Zogenix, Inc. (NASDAQ:ZGNX) in a research report released on Wednesday. Mizuho currently has a $51.00 price target on the stock.

Several other research analysts also recently commented on ZGNX. BidaskClub downgraded Zogenix from a strong-buy rating to a buy rating in a report on Wednesday, July 19th. Zacks Investment Research downgraded Zogenix from a buy rating to a hold rating in a report on Thursday, August 3rd. ValuEngine downgraded Zogenix from a hold rating to a sell rating in a report on Saturday, August 12th. Finally, William Blair upgraded Zogenix from a market perform rating to an outperform rating in a report on Friday, September 29th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Zogenix has a consensus rating of Buy and a consensus target price of $40.00.

Zogenix (NASDAQ ZGNX) opened at $39.85 on Wednesday. Zogenix has a fifty-two week low of $7.70 and a fifty-two week high of $42.60. The company has a quick ratio of 3.48, a current ratio of 2.71 and a debt-to-equity ratio of 0.23.

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In related news, major shareholder Life Sciences Maste Perceptive purchased 222,055 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were acquired at an average cost of $32.83 per share, for a total transaction of $7,290,065.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. TIAA CREF Investment Management LLC boosted its position in shares of Zogenix by 0.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 66,610 shares of the company’s stock worth $966,000 after purchasing an additional 608 shares in the last quarter. American International Group Inc. boosted its position in shares of Zogenix by 7.1% in the 1st quarter. American International Group Inc. now owns 15,278 shares of the company’s stock worth $166,000 after purchasing an additional 1,010 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Zogenix by 13.5% in the 2nd quarter. Voya Investment Management LLC now owns 14,147 shares of the company’s stock worth $205,000 after purchasing an additional 1,686 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Zogenix by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 105,926 shares of the company’s stock worth $1,536,000 after purchasing an additional 2,467 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Zogenix by 16.3% in the 2nd quarter. Alliancebernstein L.P. now owns 17,812 shares of the company’s stock worth $258,000 after purchasing an additional 2,500 shares in the last quarter. 68.50% 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. 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.

Analyst Recommendations for Zogenix (NASDAQ:ZGNX)

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