Zogenix Sees Unusually Large Options Volume (NASDAQ:ZGNX)

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Zogenix, Inc. (NASDAQ:ZGNX) saw some unusual options trading activity on Friday. Traders purchased 10,245 call options on the company. This represents an increase of 1,302% compared to the typical daily volume of 731 call options.

In related news, Director Renee P. Tannenbaum sold 5,305 shares of the firm’s stock in a transaction on Monday, November 29th. The shares were sold at an average price of $11.72, for a total value of $62,174.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.10% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in ZGNX. Advisory Services Network LLC bought a new stake in shares of Zogenix in the second quarter valued at about $33,000. Nisa Investment Advisors LLC raised its stake in Zogenix by 81.4% in the third quarter. Nisa Investment Advisors LLC now owns 5,296 shares of the company’s stock valued at $80,000 after purchasing an additional 2,376 shares in the last quarter. Royal Bank of Canada raised its stake in Zogenix by 18.5% in the second quarter. Royal Bank of Canada now owns 5,473 shares of the company’s stock valued at $94,000 after purchasing an additional 855 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in Zogenix in the first quarter valued at about $193,000. Finally, Versor Investments LP acquired a new position in Zogenix in the third quarter valued at about $208,000.

Several equities analysts recently weighed in on the stock. UBS Group assumed coverage on shares of Zogenix in a research note on Thursday, September 9th. They issued a “buy” rating and a $23.00 target price for the company. Zacks Investment Research cut shares of Zogenix from a “hold” rating to a “sell” rating in a research note on Friday, October 8th. SVB Leerink reduced their price objective on shares of Zogenix from $37.00 to $32.00 and set an “outperform” rating for the company in a research report on Monday, December 20th. Northland Securities reduced their price objective on shares of Zogenix from $40.00 to $32.00 and set an “outperform” rating for the company in a research report on Thursday, October 28th. Finally, JMP Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Zogenix in a research report on Friday, November 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Zogenix has an average rating of “Buy” and a consensus target price of $32.95.

Shares of Zogenix stock opened at $16.25 on Friday. The firm has a 50-day moving average of $14.32 and a 200-day moving average of $15.37. The stock has a market cap of $909.87 million, a PE ratio of -3.74 and a beta of 1.18. Zogenix has a 52-week low of $11.03 and a 52-week high of $23.69. The company has a debt-to-equity ratio of 0.69, a quick ratio of 4.74 and a current ratio of 4.79.

Zogenix (NASDAQ:ZGNX) last announced its earnings results on Thursday, November 4th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.96) by ($0.08). The business had revenue of $22.61 million during the quarter, compared to the consensus estimate of $22.71 million. Zogenix had a negative net margin of 381.69% and a negative return on equity of 80.20%. The company’s revenue was up 690.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.02) EPS. Equities research analysts predict that Zogenix will post -3.91 earnings per share for the current fiscal year.

About Zogenix

Zogenix, Inc is a pharmaceutical company. The firm engages in the development and commercialization of central nervous system (CNS) therapies and products for the treatment orphan diseases and other CNS disorders. Its products include Fintepla and MT1621. The company was founded by Stephen James Farr, Cam L.

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