Zafgen (ZFGN) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Zafgen (NASDAQ:ZFGN) from a hold rating to a buy rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $9.00 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. “
Several other equities analysts also recently commented on ZFGN. JMP Securities restated an outperform rating and set a $20.00 target price (up previously from $11.00) on shares of Zafgen in a research report on Wednesday. ValuEngine upgraded Zafgen from a strong sell rating to a sell rating in a research report on Friday, February 2nd.
Zafgen (NASDAQ:ZFGN) last posted its earnings results on Tuesday, March 6th. The biopharmaceutical company reported ($0.48) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.57) by $0.09. equities analysts predict that Zafgen will post -2.2 EPS for the current year.
In related news, insider Thomas E. Hughes sold 5,000 shares of the firm’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $10.00, for a total transaction of $50,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 21.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. 683 Capital Management LLC increased its holdings in Zafgen by 8.5% during the 3rd quarter. 683 Capital Management LLC now owns 1,300,000 shares of the biopharmaceutical company’s stock valued at $4,576,000 after purchasing an additional 101,600 shares in the last quarter. Armistice Capital LLC increased its holdings in Zafgen by 146.3% during the 4th quarter. Armistice Capital LLC now owns 936,000 shares of the biopharmaceutical company’s stock valued at $4,324,000 after purchasing an additional 556,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in Zafgen by 15.7% during the 2nd quarter. Vanguard Group Inc. now owns 883,838 shares of the biopharmaceutical company’s stock valued at $3,102,000 after purchasing an additional 119,902 shares in the last quarter. Mangrove Partners increased its holdings in Zafgen by 4.9% during the 4th quarter. Mangrove Partners now owns 587,629 shares of the biopharmaceutical company’s stock valued at $2,715,000 after purchasing an additional 27,644 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Zafgen by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 584,159 shares of the biopharmaceutical company’s stock valued at $2,050,000 after purchasing an additional 140,848 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.
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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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