Zacks Investment Research Downgrades Zafgen, Inc. (ZFGN) to Hold

Zacks Investment Research cut shares of Zafgen, Inc. (NASDAQ:ZFGN) from a buy rating to a hold rating in a research report sent to investors on Friday.

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 upgraded shares of Zafgen from a strong sell rating to a sell rating in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $6.38.

Zafgen (NASDAQ:ZFGN) opened at 3.46 on Friday. The company’s market cap is $95.09 million. Zafgen has a 52 week low of $2.89 and a 52 week high of $5.46. The company’s 50-day moving average is $3.46 and its 200-day moving average is $3.97.

Zafgen (NASDAQ:ZFGN) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.49) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.03. During the same quarter in the prior year, the business earned ($0.55) EPS. On average, analysts anticipate that Zafgen will post ($2.23) EPS for the current fiscal year.

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In related news, insider Dennis D. Kim acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, July 11th. The stock was acquired at an average cost of $3.39 per share, for a total transaction of $33,900.00. Following the acquisition, the insider now owns 21,443 shares of the company’s stock, valued at $72,691.77. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.20% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in Zafgen by 5.9% in the 1st quarter. Bank of New York Mellon Corp now owns 104,199 shares of the biopharmaceutical company’s stock worth $485,000 after purchasing an additional 5,794 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in Zafgen by 55.8% in the 1st 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. Paloma Partners Management Co raised its holdings in Zafgen by 17.4% in the 1st quarter. Paloma Partners Management Co now owns 130,000 shares of the biopharmaceutical company’s stock worth $606,000 after purchasing an additional 19,278 shares in the last quarter. Algert Global LLC bought a new position in Zafgen in the 2nd quarter worth $123,000. Finally, Wells Fargo & Company MN raised its holdings in Zafgen by 1,290.3% in the 1st quarter. Wells Fargo & Company MN now owns 43,531 shares of the biopharmaceutical company’s stock worth $203,000 after purchasing an additional 40,400 shares in the last quarter. Institutional investors and hedge funds own 48.52% of the company’s stock.

Zafgen Company Profile

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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