RA Capital Management LLC recently announced the acquisition of new stake in Zogenix Inc. (NASDAQ:ZGNX). The institutional investor has increased its shareholding in the Healthcare company by 133.35% to 5.28 million shares with purchase of 3.01 million shares. This fresh investment now brings its stake to 9.53% valued currently at $142.49 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.72 million to 3.8 million shares. And BlackRock Fund Advisors has lifted its position by 2.51% or 78526.0 shares – to 3.21 million shares.
With over 0.57 million Zogenix Inc. (ZGNX) shares trading Friday and a closing price of $28.93 on the day, the dollar volume was approximately $16.39 million. The shares have shown a positive weekly performance of 6.20% and its price on 07/17/20 gained nearly 0.31%. Currently, there are 48.19M common shares owned by the public and among those 43.58M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for ZGNX have a consensus price objective of $49.33. The analysts have set the share’s price value over the next 12 months at a high of $69.00 and a low of $26.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Zogenix Inc. stock is 1.70 for the next 12 months. The average price target is 41.18% above its last price level and an upside to the estimated low will see the stock lose -11.27% over that period. But an upside of 58.07% will see the stock hit the forecast high price target while mean target price for the stock is $49.50.
Insiders at the company have transacted a total of 55 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 237,240 shares. Insider sales of the common stock occurred on 27 occasions, with total insider shares sold totaling 183,169 shares.
The top 3 mutual fund holders in Zogenix Inc. are Catalyst Eventide Gilead Fund, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. Catalyst Eventide Gilead Fund owns 1.82 million shares of the company’s stock, all valued at over $49.27 million. Vanguard Total Stock Market Index bought 63341.0 shares to see its total holdings expand to 1.62 million shares valued at over $43.69 million and representing 2.92% of the shares outstanding. iShares Russell 2000 ETF sold 29154.0 shares to bring its total holdings to over 1.15 million shares at a value of $31.01 million. iShares Russell 2000 ETF now owns shares totaling to 2.08% of the shares outstanding.
Shares of Zogenix Inc. (NASDAQ: ZGNX) opened at $28.75, down -$0.09 from a prior closing price of $28.84. However, the script later closed the day at $28.93, up 0.31%. The company’s stock has a 5-day price change of 6.20% and 7.07% over the past three months. ZGNX shares are trading -44.50% year to date (YTD), with the 12-month market performance down to -39.60% lower. It has a 12-month low price of $16.65 and touched a high of $57.22 over the same period. Currently, 0.57 million shares have been traded, compared to an average intraday trading volume of 1.05 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.52%, 1.45%, and -20.03% respectively.
Institutional ownership of Zogenix Inc. (NASDAQ: ZGNX) shares accounts for 90.44% of the company’s 48.19M shares outstanding. Mutual fund holders own 57.29%, while other institutional holders and individual stakeholders account for 9.24% and 46.03% respectively.
It has a market capitalization of $1.60B and a beta (3y monthly) value of 1.72. The earnings-per-share (ttm) stands at -$9.43. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.16% over the week and 6.92% over the month.
Analysts forecast that Zogenix Inc. (ZGNX) will achieve an EPS of -$1 for the current quarter, -$0.9 for the next quarter and -$2.49 for 2021. The lowest estimate earnings-per-share for the quarter is -$1.24 while analysts give the company a high EPS estimate of -$0.77. Comparatively, EPS for the current quarter was -$0.89 a year ago. Earnings per share for the fiscal year are expected to decrease by -198.20%, and 26.50% over the next financial year. EPS should grow at an annualized rate of 8.80% over the next five years, compared to -37.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate Zogenix Inc. (ZGNX) as a “Strong Buy” at a consensus score of 1.70. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 2 of the 12 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ZGNX, a number of firms have released research notes about the stock. Citigroup stated their Neutral rating for the stock in a research note on March 06, 2020, with the firm’s price target at $27. Needham coverage for the Zogenix Inc. (ZGNX) stock in a research note released on February 07, 2020 offered a Buy rating with a price target of $54. Ladenburg Thalmann was of a view on February 07, 2020 that the stock is Neutral, while Needham gave the stock Buy rating on October 21, 2019, issuing a price target of $58. Guggenheim on their part issued Buy rating on June 27, 2019.