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Why Zogenix Inc. Shares Temporarily Spiked Higher

Sean Williams
October 28, 2013

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Zogenix (NASDAQ: ZGNX), a biopharmaceutical developer of therapies to treat central nervous system disorders and pain, spiked higher by as much as 23% early in the trading session after receiving a price target hike from research firm William Blair. Zogenix has since given up all of its gains and is now hugging the flatline as of this writing.

So what: Before the opening bell, William Blair maintained its rating of outperform on Zogenix shares