Zogenix, Inc. (NASDAQ:ZGNX)’s traded shares stood at 503,768 during the last session, with the company’s beta value hitting 1.43. At the close of trading, the stock’s price was $17.32, to imply an increase of 0.64% or $0.11 in intraday trading. The ZGNX share’s 52-week high remains $32.42, putting it -87.18% down since that peak but still an impressive +3.41% since price per share fell to its 52-week low of $16.73. The company has a valuation of $966.67 Million, with an average of 674.65 Million shares in intraday trading volume over the past 10 days and average of 653.95 Million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Zogenix, Inc. (ZGNX), translating to a mean rating of 1.7. Of 11 analyst(s) looking at the stock, none analyst(s) give ZGNX a Sell rating. None of those analysts rate the stock as Overweight while 2 advise Hold as 9 recommend it as a Buy. None analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.92.
After registering a 0.64% upside in the last session, Zogenix, Inc. (ZGNX) has traded red over the past five days. The stock hit a weekly high of $18.05 this Friday, May 28, jumping 4.02% in its intraday price action. The 5-day price performance for the stock is -2.86%, and -2.42% over 30 days. Despite these dips, the year-to-date price performance is -13.36%. Short interest in Zogenix, Inc. (NASDAQ:ZGNX) saw shorts transact 8.62 Million shares and set a 0.01 days time to cover.
Analysts on Wall Street suggest a consensus price target of $48.22, implying an increase of 178.41% to the stock’s current value. The extremes give us $23 and $65 for target low and target high price respectively. As such, ZGNX has been trading 275.29% off suggested target high and 32.79% from its likely low.
Zogenix, Inc. (ZGNX) estimates and forecasts
Looking at statistics comparing Zogenix, Inc. share performance against respective industry, we note that the company has underperformed competitors. Zogenix, Inc. (ZGNX) shares are -19.4% down over the last 6 months, with its year-to-date growth rate lower than industry average at 13.85% against 16.2%. But the analysts are intensifying their growth estimates for the 2021 fiscal year. Revenue is forecast to grow 4.2% this quarter before jumping 22.2% for the next one. The rating firms project that company’s revenue will grow 534.1% compared to the previous financial year.
Revenue forecast for the current quarter as set by 9 analysts is $17.89 Million. Meanwhile, for the quarter ending September 01, 2021, a total of 9 analyst(s) estimate revenue growth to $23.81 Million. Earnings reports from the last fiscal year show that sales brought in $1.03 Million and $2.86 Million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 1633.5% before jumping 732.5% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings fell an estimated -14.9% for the past 5-year period. While 2021 is set for a 60% return in earnings, projections for the next 5 years are at 8.8% annually.
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Zogenix, Inc. (NASDAQ:ZGNX)’s Major holders
Zogenix, Inc. insiders hold 0.44% of total outstanding shares, with institutional holders owning 110.81% of the shares at 111.3% float percentage. In total, 240 institutions holds shares in the company, led by RA Capital Management, L.P. As of Dec 30, 2020, the company held over 5.35 Million shares (or 9.58% of shares), all amounting to roughly $106.86 Million.
The next major institution holding the largest number of shares is Cadian Capital Management, LLC with 5.27 Million shares, or about 9.44% of shares outstanding. As of the market price on Dec 30, 2020, these shares were worth $105.37 Million.
We also have Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF as the top two Mutual Funds with the largest holdings of the Zogenix, Inc. (ZGNX) shares. Going by data provided on Dec 30, 2020, Vanguard Total Stock Market Index Fund holds roughly 1,602,432 shares. This is just over 2.87% of the total shares, with a market valuation of $32.03 Million. Data from the same date shows that the other fund manager holds a little less at 1.38 Million, or 2.47% of the shares, all valued at about $26.89 Million.