Northland Securities Reaffirms Their Buy Rating on Zogenix (ZGNX)

By Jason Carr

Northland Securities analyst Carl Byrnes maintained a Buy rating on Zogenix (ZGNXResearch Report) today and set a price target of $65.00. The company’s shares closed last Wednesday at $25.99.

According to TipRanks.com, Byrnes has currently no stars on a ranking scale of 0-5 stars, with an average return of -24.0% and a 21.7% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Aridis Pharmaceuticals, Flexion Therapeutics, and vTv Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Zogenix with a $49.38 average price target, an 88.5% upside from current levels. In a report released today, Mizuho Securities also maintained a Buy rating on the stock with a $64.00 price target.

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Based on Zogenix’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.95 million and GAAP net loss of $56.06 million. In comparison, last year the company had a GAAP net loss of $22.43 million.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ZGNX in relation to earlier this year.

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. 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.