Needham Sticks to Their Buy Rating for Zogenix (ZGNX)


Needham analyst Serge Belanger maintained a Buy rating on Zogenix (ZGNX) today and set a price target of $48.00. The company’s shares closed last Friday at $20.89.

According to TipRanks.com, Belanger is a 4-star analyst with an average return of 13.6% and a 51.9% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Collegium Pharmaceutical, KalVista Pharmaceuticals, and Zynerba Pharmaceuticals.

Zogenix has an analyst consensus of Moderate Buy, with a price target consensus of $51.20, implying a 135.9% upside from current levels. In a report released today, Northland Securities also assigned a Buy rating to the stock with a $65.00 price target.

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Based on Zogenix’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.86 million and GAAP net loss of $60.09 million. In comparison, last year the company earned revenue of $630K and had a GAAP net loss of $290 million.

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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.

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