Needham Thinks Zogenix’s Stock is Going to Recover

Needham analyst Serge Belanger assigned a Buy rating to Zogenix (ZGNXResearch Report) today and set a price target of $48.00. The company’s shares closed last Monday at $23.10, close to its 52-week low of $16.65.

According to TipRanks.com, Belanger is a 3-star analyst with an average return of 3.6% and a 45.0% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, Collegium Pharmaceutical, and KalVista Pharmaceuticals.

Zogenix has an analyst consensus of Moderate Buy, with a price target consensus of $48.25, which is an 112.6% upside from current levels. In a report released today, Northland 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 $57.22 and a one-year low of $16.65. Currently, Zogenix has an average volume of 1.17M.

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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. 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.