Mizuho Securities Releases a Buy Rating on Zogenix

By Jason Carr

Mizuho Securities analyst Difei Yang assigned a Buy rating to Zogenix (NASDAQ: ZGNX) today and set a price target of $51. The company’s shares closed yesterday at $34.10.

Yang commented:

“We found the safety data to be adequate, with no signs of cardiac valve disorder. As such, we believe the share weakness over the past several days is unwarranted.”

According to TipRanks.com, Yang is a 5-star analyst with an average return of 16.8% and a 49.3% success rate. Yang covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Fennec Pharmaceuticals Inc, and Spectrum Pharmaceuticals.

Currently, the analyst consensus on Zogenix is Strong Buy and the average price target is $53.50, representing a 56.9% upside.

In a report issued on November 27, JMP Securities also initiated coverage with a Buy rating on the stock with a $56 price target.

The company has a one-year high of $42.60 and a one-year low of $7.70. Currently, Zogenix has an average volume of 1.7M.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.