Zogenix Sees Unusually Large Options Volume (NASDAQ:ZGNX)

Zogenix, Inc. (NASDAQ:ZGNX) was the target of some unusual options trading activity on Tuesday. Stock investors purchased 1,391 call options on the company. This is an increase of approximately 908% compared to the average volume of 138 call options.

Several analysts have issued reports on ZGNX shares. BidaskClub upgraded shares of Zogenix from a “hold” rating to a “buy” rating in a research report on Friday, December 29th. Mizuho reaffirmed a “buy” rating and set a $51.00 price objective on shares of Zogenix in a research note on Thursday, December 7th. ValuEngine raised shares of Zogenix from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research raised shares of Zogenix from a “sell” rating to a “hold” rating in a research note on Saturday, January 27th. Finally, JMP Securities assumed coverage on shares of Zogenix in a research note on Monday, November 27th. They issued an “outperform” rating and a $56.00 price target for the company. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $42.67.

Zogenix (ZGNX) opened at $41.25 on Friday. Zogenix has a one year low of $8.50 and a one year high of $43.35. The firm has a market cap of $1,416.34, a P/E ratio of -9.33 and a beta of 1.79. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.23.

In other Zogenix news, Director Roger Hawley sold 11,797 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $37.02, for a total transaction of $436,724.94. Following the sale, the director now owns 105,575 shares of the company’s stock, valued at approximately $3,908,386.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bradley S. Galer purchased 1,346 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was purchased at an average cost of $36.59 per share, for a total transaction of $49,250.14. The disclosure for this purchase can be found here. Insiders own 5.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC bought a new position in shares of Zogenix during the third quarter valued at approximately $226,000. Sterling Capital Management LLC bought a new position in shares of Zogenix during the third quarter valued at approximately $237,000. Teacher Retirement System of Texas purchased a new stake in shares of Zogenix during the fourth quarter valued at approximately $409,000. Raymond James & Associates purchased a new stake in shares of Zogenix during the fourth quarter valued at approximately $460,000. Finally, Stifel Financial Corp purchased a new stake in shares of Zogenix during the second quarter valued at approximately $175,000. 73.47% of the stock is owned by institutional investors and hedge funds.

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About Zogenix

Zogenix, Inc is a pharmaceutical company engaged in developing and commercializing central nervous system (CNS) therapies that address specific clinical needs for people living with orphan and other CNS disorders. Its primary area of therapeutic focus is epilepsy and related seizure disorders. Its lead product candidate, ZX008, is a low-dose fenfluramine for the treatment of seizures associated with Dravet syndrome.

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