Zogenix Receives a Buy from Aegis Capital

By Carrie Williams

Aegis Capital analyst Difei Yang reiterated a Buy rating on Zogenix (NASDAQ: ZGNX) on March 10 and set a price target of $28. The company’s shares opened today at $10.80.

According to TipRanks.com, Yang is a 4-star analyst with an average return of 8.3% and a 45.3% success rate. Yang covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Protalix Biotherapeutics, and Spectrum Pharmaceuticals.

Zogenix has an analyst consensus of Moderate Buy, with a price target consensus of $28.

Based on Zogenix’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $10.99 million and GAAP net loss of $23.49 million. In comparison, last year the company earned revenue of $6.08 million and had a GAAP net loss of $11.17 million.

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Zogenix, Inc. is a pharmaceutical company, which engages in the development and commercialization of central nervous system (CNS) therapies and products for the treatment orphan diseases and other CNS disorders. It develops two products candidate: ZX008 and Relday. The company was founded by Stephen J. 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.