Zogenix, Inc. (NASDAQ:ZGNX) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 9,644,400 shares, an increase of 6.8% from the May 30th total of 9,030,200 shares. Approximately 24.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 817,100 shares, the short-interest ratio is currently 11.8 days.
A number of equities analysts have commented on ZGNX shares. Leerink Swann upped their target price on shares of Alnylam Pharmaceuticals to $90.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 9th. Guggenheim started coverage on shares of Alteryx in a research note on Thursday, June 27th. They issued a “buy” rating and a $107.53 target price on the stock. Svb Leerink dropped their target price on shares of Zogenix from $60.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 9th. William Blair reaffirmed a “buy” rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, April 9th. Finally, Stifel Nicolaus lowered their price target on shares of Zogenix from $72.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Zogenix presently has a consensus rating of “Buy” and a consensus price target of $62.92.
In related news, insider Stephen J. Farr sold 34,225 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $48.01, for a total transaction of $1,643,142.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael P. Smith sold 15,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $46.32, for a total transaction of $694,800.00. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its position in Zogenix by 12.5% during the first quarter. FMR LLC now owns 4,708,960 shares of the company’s stock valued at $259,040,000 after buying an additional 524,829 shares during the period. RA Capital Management LLC grew its position in shares of Zogenix by 26.8% in the fourth quarter. RA Capital Management LLC now owns 2,382,168 shares of the company’s stock valued at $86,854,000 after purchasing an additional 503,400 shares during the period. Great Point Partners LLC acquired a new stake in shares of Zogenix in the fourth quarter valued at about $36,460,000. Marshall Wace LLP grew its position in shares of Zogenix by 321.4% in the first quarter. Marshall Wace LLP now owns 564,721 shares of the company’s stock valued at $31,065,000 after purchasing an additional 430,698 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Zogenix by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 488,181 shares of the company’s stock valued at $17,799,000 after purchasing an additional 54,187 shares during the period.
Shares of NASDAQ ZGNX traded down $0.28 during midday trading on Monday, reaching $48.18. The company had a trading volume of 498,485 shares, compared to its average volume of 614,380. The company’s 50-day moving average is $45.13. The company has a market cap of $2.05 billion, a PE ratio of -14.92 and a beta of 2.04. Zogenix has a 1 year low of $33.43 and a 1 year high of $57.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 9.12 and a current ratio of 9.12.
Zogenix (NASDAQ:ZGNX) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.85) by $0.02. Equities analysts expect that Zogenix will post -3.63 EPS for the current year.
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.
