Zacks Investment Research Upgrades Zafgen, Inc. (ZFGN) to “Buy”
Zafgen, Inc. (NASDAQ:ZFGN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $3.75 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 8.38% from the stock’s current price.
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 report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $6.38.
Zafgen (NASDAQ:ZFGN) traded down 1.73% on Tuesday, hitting $3.40. 17,890 shares of the company traded hands. Zafgen has a 12 month low of $2.89 and a 12 month high of $5.46. The stock’s 50-day moving average is $3.46 and its 200 day moving average is $3.97. The stock’s market cap is $93.44 million.
Zafgen (NASDAQ:ZFGN) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.49) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.03. During the same quarter in the previous year, the company posted ($0.55) earnings per share. Equities research analysts expect that Zafgen will post ($2.23) earnings per share 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 that occurred on Tuesday, July 11th. The shares were purchased at an average price of $3.39 per share, with a total value of $33,900.00. Following the completion of the acquisition, the insider now owns 21,443 shares in the company, valued at $72,691.77. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.20% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in ZFGN. Wells Fargo & Company MN boosted its holdings in Zafgen by 1,290.3% during 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 in the last quarter. Bank of New York Mellon Corp boosted its holdings in Zafgen by 5.9% during the first quarter. Bank of New York Mellon Corp now owns 104,199 shares of the biopharmaceutical company’s stock worth $485,000 after buying an additional 5,794 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in 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 buying an additional 10,327 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Zafgen by 937.6% during the first quarter. JPMorgan Chase & Co. now owns 495,743 shares of the biopharmaceutical company’s stock worth $2,311,000 after buying an additional 447,964 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in Zafgen by 40.9% during the first quarter. TIAA CREF Investment Management LLC now owns 169,836 shares of the biopharmaceutical company’s stock worth $791,000 after buying an additional 49,308 shares in the last quarter. 48.52% of the stock is currently owned by hedge funds and other institutional investors.
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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