Zogenix (ZGNX) was Downgraded to a Hold Rating at Ladenburg Thalmann & Co.

By Austin Angelo

Ladenburg Thalmann & Co. analyst Michael Higgins downgraded Zogenix (ZGNXResearch Report) to Hold today and set a price target of $35.00. The company’s shares closed last Monday at $52.62.

According to TipRanks.com, Higgins is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -12.5% and a 32.4% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, Zynerba Pharmaceuticals, and SAGE Therapeutics.

Zogenix has an analyst consensus of Strong Buy, with a price target consensus of $60.86.

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Based on Zogenix’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $290 million. In comparison, last year the company had a GAAP net loss of $22.43 million.

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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.