Zogenix (ZGNX) Looks Good: Stock Moves 8.9% Higher – Tale of the Tape

December 31, 2014 Technicals 0

Zacks

Zogenix, Inc. (ZGNX) was a big mover last session with shares rising nearly 9% on the day. The upside resulted from Brean Capital’s initiation of coverage on the company on Dec 29, with a "buy" rating and a $2.50 price target. This development led to far more shares changing hands yesterday than in a normal session. This breaks the recent trend of the company as the stock is now trading above the past one month’s volatile price range of $1.11 to $1.25.

This pharmaceutical company has not seen any estimate revision in the last 30 days. The Zacks Consensus Estimate has also remained unchanged over the same period. Yesterday’s rally is encouraging though, so make sure to keep a close watch on this stock in the near future.

Zogenix currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

However, a better-ranked stock in the Med-drug industry is Cempra, Inc. (CEMP) with a Zacks Rank #1 (Strong Buy).

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