Mizuho Securities Maintains a Buy Rating on Zogenix (ZGNX)


In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on Zogenix (NASDAQ: ZGNX), with a price target of $69. The company’s shares closed yesterday at $48.25.

Yang commented:

“We see the recent share weakness post-study 1504 readouts as a buying opportunity. We believe upside potential remains from the LGS indication in 2019 and we believe Zogenix is in comfortable position to reach break-even following a recent $359 mil capital raise. In addition, we see the FDA approval of stiripentol on 08/21/18 as incrementally positive for ZX008 from an IP protection perspective. The known drug-drug interaction (DDI) of ZX008 with stiripentol is protected by Zogenix patents and is likely to create an extra hurdle for potential generic competitors down the road.”

According to TipRanks.com, Yang is a 5-star analyst with an average return of 22.9% and a 53.8% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.

Zogenix has an analyst consensus of Strong Buy, with a price target consensus of $69.67, implying a 44.4% upside from current levels. In a report released yesterday, Ladenburg also initiated coverage with a Buy rating on the stock with a $71 price target.

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Based on Zogenix’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $29.04 million. In comparison, last year the company had a GAAP net loss of $23.01 million.

Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ZGNX in relation to earlier this year.

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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