Zogenix (ZGNX) Receives a Buy from Needham

By Jason Carr

In a report released today, Serge Belanger from Needham maintained a Buy rating on Zogenix (ZGNXResearch Report), with a price target of $58.00. The company’s shares closed last Monday at $47.11.

According to TipRanks.com, Belanger is a 3-star analyst with an average return of 1.8% and a 45.5% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, KalVista Pharmaceuticals, and Collegium Pharmaceutical.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Zogenix with a $63.71 average price target, which is a 36.1% upside from current levels. In a report issued on November 25, Mizuho Securities also maintained a Buy rating on the stock with a $65.00 price target.

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The company has a one-year high of $56.50 and a one-year low of $33.43. Currently, Zogenix has an average volume of 403.2K.

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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.