Zogenix, Inc. ZGNX, a pharmaceutical company which is committed to developing and commercializing therapies for central nervous system disorders, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ZGNX’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Zogenix could be a solid choice for investors.
Current Quarter Estimates for ZGNX
In the past 30 days, 4 estimates have gone higher for Zogenix while no estimates have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of $1.10 a share 30 days ago, to a loss of 84 cents today, a move of 31%.
Current Year Estimates for ZGNX
Meanwhile, Zogenix’s current year figures are also looking quite promising, with 4 estimates moving higher in the past month, compared to no lower estimates. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $3.24 per share 30 days ago to a loss of $2.82 per share today, an increase of 14.9%.
The stock has also started to move higher lately, adding 55.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.