Zircon-S is a new Russian hypersonic naval missile. That's all we really know about it.
It's possible that it is made by NPO Mashinostroyenia (makers of naval cruise missiles and ICBMs). It's possible that it is the domestic Russian version of the Brahmos-2. But we don't really know anything for sure.
I believe Lockheed are developing a weapon thus far named LRASM-B, which is a supersonic, RAM-jet powered long range anti-ship missile, comparable to the likes of BrahMos et al. However, it's been a while since there's been an update on LRASM. Last I heard, it was projected to enter service in 2013.
Target missiles can't (easily) be made into operational missiles. A target doesn't need to worry about long-term storage, corrosion, fitting into existing tubes, shock effects, jamming, complex guidance, long range, smokeless exhaust, series production concerns, etc.
Its name and the "naval" and "hypersonic" parts come from Russian deputy minister of defense.
Before he actually mentioned it last year, we didn't even know such a program existed (although it would have been an easy guess, since Indians confirmed that Brahmos-2 was going to be hypersonic, which I always assume to be M>5).
Raduga made a long-range missile with a hypersonic ramjet that could do 4.5 Mach in mid 80's. Was supposed to replace Kh-55 ALCM. Was tested twice, but shelved in early 90's.
Also, NPO Mash had a flying lab design similar to NASA's X-43 that was supposed to do 6-14 Mach.
We'll see how it goes.