Zogenix Inc. (ZGNX) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the health care sector during morning trading on September 23. At the lunch break, shares of ZGNX have clocked gains of 7.88% to $10.27 after closing the day prior at $9.52. In the first two and a half hours of trading, the stock has gone as high as $10.44 and as low as $9.45. Today’s rise has come with about 137,149 shares changing hands, compared to an average 30-day volume of 138,293 for Zogenix Inc.. The price is currently below the 30-day volume weighted average price of $10.13 for ZGNX.
The share appreciation gives the company a market capitalization of $236.01 million based upon 24.79 million shares outstanding. It also means that ZGNX has a price-to-book ratio of 1.5:1.
In the past 52 weeks, shares of ZGNX have traded as low as $7.33 and as high as $17.42. Technical traders will take note that at $10.27, shares of ZGNX are trading above their 200-day MA at $10.01 and above their 50-day MA at $9.15. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is ZGNX?
Zogenix Inc is a pharmaceutical company engaged in commercializing & developing therapies that address clinical needs for people living with pain-related and CNS disorders that needs treatment alternatives to help return to normal daily functioning. The company’s 62 employees are led by CEO Steven J. Farr from the corporate headquarters at 5858 Horton Street in Emeryville, CA.
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