In a report released today, Difei Yang from Mizuho Securities reiterated a Buy rating on Zogenix (NASDAQ: ZGNX). The company’s shares opened today at $56.45, close to its 52-week high of $58.30.
Yang wrote:
“We now see ZX008 as significantly de-risked and we expect approval sometime in mid-2019 followed by a launch in 2H19. We believe it is also proper to include some considerations on the Lennox gastaut syndrome indication. We reiterate our Buy rating and raise our price target to $69 from $51.”
According to TipRanks.com, Yang is a top 100 analyst with an average return of 23.4% and a 55.7% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.
Currently, the analyst consensus on Zogenix is a Moderate Buy with an average price target of $51.
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The company has a one-year high of $58.30 and a one-year low of $10.05. Currently, Zogenix has an average volume of 527K.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Cam Garner, a Director at ZGNX sold 218 shares for a total of $8,698.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
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