Skip to main content

Market Overview

UPDATE: Oppenheimer Downgrades Zogenix to Perform Following Negative Panel

Share:

Oppenheimer reduced its rating on Zogenix (NASDAQ: ZGNX) from Outperform to Perform and removed its $3 price target.

Oppenheimer said, "On 12/7, ZGNX's Zohydro did not receive a positive recommendation from an FDA Advisory Committee, which cited safety concerns, mainly abuse potential and dependence. It appeared that the panel held Zohydro to a higher standard than other in-class drugs. As such, we do not anticipate that ZGNX will receive approval by the 3/1/13 PDUFA with potential approval likely delayed until abuse risks are mitigated. We believe ZGNX will continue to work with the FDA to improve upon the current REMS program, which the panel viewed as insufficient (owing mainly to its voluntary nature)."

Zogenix closed at $2.36 on Friday.

Latest Ratings for ZGNX

DateFirmActionFromTo
Aug 2020Raymond JamesInitiates Coverage OnMarket Perform
Jun 2020NeedhamMaintainsBuy
May 2020NeedhamMaintainsBuy

View More Analyst Ratings for ZGNX
View the Latest Analyst Ratings

 

Related Articles (ZGNX)

View Comments and Join the Discussion!

Posted-In: OppenheimerAnalyst Color Downgrades Intraday Update Analyst Ratings

Latest Ratings

StockFirmActionPT
PHXSeaport GlobalInitiates Coverage On
AFCGLake StreetInitiates Coverage On29.0
OSSNoble Capital MarketsUpgrades7.0
NCNOGabelli & Co.Upgrades
HAECJS SecuritiesUpgrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com