Zogenix (ZGNX) is Resumed by Leerink Partners to Outperform, Price Target at $17

Zogenix (ZGNX) was Resumed by Leerink Partners to “Outperform” and the brokerage firm has set the Price Target at $17. Leerink Partners advised their investors in a research report released on Oct 4, 2016.

On the company’s financial health, Zogenix reported $-0.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $-0.86. The company had revenue of $2.10 million for the quarter, compared to analysts expectations of $6.44 million. The company’s revenue was down -71.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-3.78 EPS.

Zogenix opened for trading at $10.75 and hit $11.59 on the upside on Friday, eventually ending the session at $11.43, with a gain of 6.92% or 0.74 points. The heightened volatility saw the trading volume jump to 3,93,574 shares. Company has a market cap of $283 M.

In a different news, on Dec 18, 2015, Roger Hawley (director) purchased 10,000 shares at $13.74 per share price. According to the SEC, on Dec 8, 2015, Renee P Tannenbaum (director) purchased 5,000 shares at $15.40 per share price.

Zogenix Inc. (Zogenix) is a pharmaceutical company which is engaged in development and commercialization of therapies for people with central nervous system (CNS) disorders. The Company focuses on the areas of pain epilepsy and schizophrenia. It is engaged in the development of Relday a product candidate for the treatment of schizophrenia. The Company develops ZX007 an abuse-deterrent tablet formulation of single entity extended-release hydrocodone. The Company commercializes Sumavel DosePro (sumatriptan injection) a needle-free delivery system. Sumavel DosePro offers the administration of sumatriptan for the acute treatment of migraine and cluster headache. The Company sells Sumavel DosePro to wholesale pharmaceutical distributors pharmacies and hospitals.


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