Zogenix, Inc. (NASDAQ:ZGNX) Target Price $50
Hedge Funds Are Betting On Zogenix
The drug discovery market worldwide is on the rise. By 2025 the market is expected to be valued at 71 billion U.S. dollars. As of 2016, the market was valued at just 35.2 billion U.S. dollars. The largest segment of the drug discovery market has been small molecule drug discovery. By 2025 the small molecule drug discovery market will be valued at some 48 billion U.S. dollars.
Zogenix, Inc. is a pharmaceutical company engaged in developing and commercializing central nervous system (CNS) therapies that address specific clinical needs for people living with orphan and other CNS disorders.
Its primary area of therapeutic focus is epilepsy and related seizure disorders. Its lead product candidate, ZX008, is a low-dose fenfluramine for the treatment of seizures associated with Dravet syndrome.
ZX008 has received orphan drug designation in the United States and European Union (EU), for the treatment of Dravet syndrome. The Company has an additional product candidate, Relday (risperidone once-monthly long-acting injectable) for the treatment of schizophrenia.
Relday is a long-acting injectable formulation of risperidone. Risperidone is used to treat the symptoms of schizophrenia and bipolar disorder in adults and teenagers 13 years of age and older. It has completed the Phase I program for Relday.
Shayne Heffernan Trade Idea
“We predict the future price of Zogenix will come in around $51.18 which will give the stock a price increase of +78.95%.”
Overall, the bias in prices is: Downwards.
By the way, prices are vulnerable to a correction towards 29.32.
The projected upper bound is: 31.61.
The projected lower bound is: 25.81.
The projected closing price is: 28.71.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 13.4438. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 13 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 48.00. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 58 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -104.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 2 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 1 period(s) ago.
Rex Takasugi – TD Profile
ZOGENIX INC ORD closed down -0.150 at 28.600. Volume was 30% below average (neutral) and Bollinger Bands were 74% narrower than normal.
Open High Low Close Volume 29.500 30.130 28.180 28.600 796,596
Technical Outlook Short Term: Oversold Intermediate Term: Bullish Long Term: Bearish
Moving Averages: 10-period 50-period 200-period Close: 29.94 27.56 37.79 Volatility: 61 67 94 Volume: 622,084 698,999 763,964
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
ZOGENIX INC ORD is currently 24.3% below its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods.
Our volume indicators reflect volume flowing into and out of ZGNX.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on ZGNX.O and have had this outlook for the last 16 periods.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of the NASDAQ Stock Market.
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