Ra Capital Management buys $30,280,292 stake in Zogenix (ZGNX)

Zogenix (ZGNX) : Ra Capital Management scooped up 204,929 additional shares in Zogenix during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 2,656,166 shares of Zogenix which is valued at $30,280,292.Zogenix makes up approximately 3.09% of Ra Capital Management’s portfolio.

Other Hedge Funds, Including , Group One Trading boosted its stake in ZGNX in the latest quarter, The investment management firm added 4,800 additional shares and now holds a total of 37,246 shares of Zogenix which is valued at $445,090. Zogenix makes up approx 0.03% of Group One Trading’s portfolio.Alliancebernstein reduced its stake in ZGNX by selling 1,200 shares or 7.27% in the most recent quarter. The Hedge Fund company now holds 15,312 shares of ZGNX which is valued at $170,729. Tower Research Capital (trc) added ZGNX to its portfolio by purchasing 868 company shares during the most recent quarter which is valued at $7,421.Rhumbline Advisers boosted its stake in ZGNX in the latest quarter, The investment management firm added 1,100 additional shares and now holds a total of 31,135 shares of Zogenix which is valued at $266,204.Teachers Advisors boosted its stake in ZGNX in the latest quarter, The investment management firm added 3,226 additional shares and now holds a total of 39,320 shares of Zogenix which is valued at $336,186.

Zogenix (ZGNX) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $12.05 and reached the intraday high at $12.3. The bulls started the profit booking and pushed the shares to intraday low of $11.9. The trading session was marked by a volume range of 3,57,752 shares exchanging hands. The 52-week high of the shares is $16.5594 and the 52-week low is $7.33. The market cap of the company stands at $300 M and there are 2,47,90,989 shares in public circulation.

On the company’s financial health, Zogenix reported $-0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.31 according to the earnings call on Nov 7, 2016. Analyst had a consensus of $-1.00. The company had revenue of $6.57 million for the quarter, compared to analysts expectations of $3.10 million. The company’s revenue was down -28.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.65 EPS.

Many Wall Street Analysts have commented on Zogenix. Leerink Partners Resumed Zogenix on Oct 4, 2016 to “Outperform”, Price Target of the shares are set at $17.

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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