Zogenix (ZGNX) Receives a Hold from Raymond James


In a report released yesterday, Danielle Brill from Raymond James maintained a Hold rating on Zogenix (ZGNX). The company’s shares closed last Thursday at $22.16.

According to TipRanks.com, Brill is a 4-star analyst with an average return of 16.8% and a 54.4% success rate. Brill covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, ACADIA Pharmaceuticals, and Sarepta Therapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zogenix with a $48.25 average price target, which is a 104.9% upside from current levels. In a report issued on February 24, Ladenburg Thalmann & Co. also assigned a Hold rating to the stock.

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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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