Zacks Investment Research upgraded shares of Zafgen, Inc. (NASDAQ:ZFGN) from a hold rating to a buy rating in a report published on Wednesday morning. They currently have $3.75 price objective on the biopharmaceutical company’s stock.
According to Zacks, “Zafgen, Inc. is a biopharmaceutical company. The Company develops therapeutics for patients suffering from obesity and obesity-related disorders. Its lead product candidate includes Beloranib, an injection that is in Phase II clinical trials for the treatment of various indications comprising obesity and hyperphagia in Prader-Willi Syndrome patients, craniopharyngioma-associated obesity, and severe obesity in the general population. Zafgen, Inc. is headquartered in Cambridge, Massachusetts. “
Separately, ValuEngine cut shares of Zafgen from a sell rating to a strong sell rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $6.38.
Shares of Zafgen (NASDAQ ZFGN) opened at 3.37 on Wednesday. Zafgen has a 12-month low of $2.89 and a 12-month high of $5.46. The stock has a 50 day moving average of $3.45 and a 200 day moving average of $3.98. The company’s market cap is $92.62 million.
Zafgen (NASDAQ:ZFGN) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.03. During the same quarter last year, the firm posted ($0.55) EPS. Analysts forecast that Zafgen will post ($2.23) earnings per share for the current year.
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In other Zafgen news, insider Dennis D. Kim purchased 10,000 shares of Zafgen stock in a transaction dated Tuesday, July 11th. The shares were acquired at an average price of $3.39 per share, with a total value of $33,900.00. Following the completion of the transaction, the insider now owns 21,443 shares of the company’s stock, valued at $72,691.77. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 21.20% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Parametric Portfolio Associates LLC lifted its position in shares of Zafgen by 55.8% during the first quarter. Parametric Portfolio Associates LLC now owns 28,832 shares of the biopharmaceutical company’s stock worth $134,000 after purchasing an additional 10,327 shares in the last quarter. Algert Global LLC acquired a new stake in Zafgen in the second quarter valued at approximately $123,000. Nine Chapters Capital Management LLC acquired a new stake in Zafgen in the first quarter valued at approximately $170,000. Wells Fargo & Company MN raised its holdings in Zafgen by 1,290.3% in the first quarter. Wells Fargo & Company MN now owns 43,531 shares of the biopharmaceutical company’s stock valued at $203,000 after acquiring an additional 40,400 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Zafgen in the second quarter valued at approximately $259,000. 48.52% of the stock is currently owned by institutional investors and hedge funds.
Zafgen, Inc is a biopharmaceutical company. The Company is focused on improving the health and well-being of patients affected by obesity and complex metabolic disorders. The Company’s lead product candidate, Beloranib, is a twice-weekly subcutaneous injection being developed for the treatment of multiple indications, including severe obesity in rare diseases, such as Prader-Willi syndrome (PWS) and hypothalamic injury-associated obesity (HIAO), including craniopharyngioma-associated obesity.
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