Leerink Partners Resumes Zogenix, Inc. (ZGNX) at Outperform
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Leerink Partners resumes coverage on Zogenix, Inc. (NASDAQ: ZGNX) with a Outperform rating and a price target of $17.00.
Analyst Paul Matteis commented, "At a ~$315MM market cap, we see a favorable risk/reward for ZGNX shares ahead of multiple data readouts for lead product ZX008 across orphan epilepsies. Although results generated to date are single arm and from a single center - and thus should be interpreted with some caution - we are encouraged that the 75%+ seizure reductions of observed on '008 in highly refractory populations with Dravet Syndrome are orders of magnitude larger than the placebo rate observed in recent GWPH (OP) pivotal trials. Preliminary data in an LGS pilot trial are expected at AES in December, while results from the ph3 ZX008 are expected in 2Q17."
Shares of Zogenix, Inc. closed at $11.19 yesterday.
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