Mizuho Securities analyst Difei Yang reiterated a Buy rating on Zogenix (ZGNX) today and set a price target of $64.00. The company’s shares closed last Tuesday at $26.65.
According to TipRanks.com, Yang is ranked 0 out of 5 stars with an average return of -13.5% and a 31.1% success rate. Yang covers the Healthcare sector, focusing on stocks such as Xeris Pharmaceuticals, Sarepta Therapeutics, and Revance Therapeutics.
Currently, the analyst consensus on Zogenix is a Strong Buy with an average price target of $49.38, implying an 84.4% upside from current levels. In a report issued on April 23, Needham also maintained a Buy rating on the stock with a $54.00 price target.
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Based on Zogenix’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.95 million and GAAP net loss of $56.06 million. In comparison, last year the company had a GAAP net loss of $22.43 million.
Based on the recent corporate insider activity of 26 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.
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Zogenix, Inc. is a pharmaceutical company. 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. The company was founded by Stephen James Farr, Cam L. Garner, Roger L. Hawley, Bret E. Megargel, Jonathan M. N. Rigby, Scott L. Glenn, and John J. Turanin on May 11, 2006 and is headquartered in Emeryville, CA.
