Mizuho Securities analyst Difei Yang assigned a Buy rating to Zogenix (ZGNX) today and set a price target of $69. The company’s shares closed yesterday at $45.66.
Yang observed:
“We note that the competitor product Epidiolex has launched in the U.S. on Nov. 1, 2018. We believe with a superior product profile, we believe Fintepla could become the standard of care in Dravet patients. See our prior note (available here) for additional details. Potential approval of Fintepla remains the key catalyst for Zogenix in 2019. If FDA approved, Fintepla could launch in the U.S. in 3Q19. An AdComm meeting is possible in 2019 prior to the potential FDA approval.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 16.0% and a 45.6% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Xeris Pharmaceuticals Inc, and Alder Biopharmaceuticals.
Currently, the analyst consensus on Zogenix is a Strong Buy with an average price target of $64.50.
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Based on Zogenix’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $42.26 million. In comparison, last year the company had a GAAP net loss of $39.71 million.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is negative on the stock.
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Zogenix, Inc. is a pharmaceutical compan. It 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 ZX008 and Relday.
