Northland Securities Keeps a Buy Rating on Zogenix (ZGNX)

By Ryan Adsit

In a report released today, Carl Byrnes from Northland Securities maintained a Buy rating on Zogenix (ZGNXResearch Report), with a price target of $60. The company’s shares closed on Friday at $47.72.

Byrnes wrote:

“We note that 1504 demonstrated 63% and 54% reductions in mean monthly convulsive seizure frequency, versus comparator arms that excluded or included stiripentol therapy, respectively. FINTEPLA was also shown to significantly extend seizure free intervals to ~1 month, with an exceptionally high response rate >70%.”

According to TipRanks.com, Byrnes has currently no stars on a ranking scale of 0-5 stars, with an average return of -9.3% and a 29.8% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Aridis Pharmaceuticals Inc, and Adamas Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Zogenix with a $61.38 average price target, which is a 28.6% upside from current levels. In a report issued on June 27, Piper Jaffray also reiterated a Buy rating on the stock with a $64 price target.

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The company has a one-year high of $62.75 and a one-year low of $33.43. Currently, Zogenix has an average volume of 833.9K.

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Zogenix, Inc. is a pharmaceutical compan. 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.