Zafgen, Inc. (NASDAQ:ZFGN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued 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 raised shares of Zafgen from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Zafgen currently has a consensus rating of “Hold” and a consensus target price of $6.38.

Shares of Zafgen (NASDAQ ZFGN) opened at 3.37 on Friday. The stock’s market cap is $92.62 million. The firm has a 50 day moving average of $3.45 and a 200 day moving average of $3.98. Zafgen has a one year low of $2.89 and a one year high of $5.46.

Zafgen (NASDAQ:ZFGN) last announced its quarterly earnings data 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) earnings per share. On average, equities research analysts predict that Zafgen will post ($2.23) EPS for the current fiscal year.

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

Several institutional investors and hedge funds have recently made changes to their positions in ZFGN. Algert Global LLC acquired a new position in shares of Zafgen in the second quarter worth about $123,000. Parametric Portfolio Associates LLC boosted its holdings in shares of Zafgen by 55.8% in the first quarter. Parametric Portfolio Associates LLC now owns 28,832 shares of the biopharmaceutical company’s stock worth $134,000 after buying an additional 10,327 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Zafgen by 1,290.3% in the first quarter. Wells Fargo & Company MN now owns 43,531 shares of the biopharmaceutical company’s stock worth $203,000 after buying an additional 40,400 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Zafgen in the second quarter worth about $259,000. Finally, LMR Partners LLP acquired a new position in shares of Zafgen in the second quarter worth about $299,000. Institutional investors 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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