Leerink Swann Equities Analysts Raise Earnings Estimates for Zafgen Inc (ZFGN)
Zafgen Inc (NASDAQ:ZFGN) – Analysts at Leerink Swann lifted their Q3 2018 earnings per share estimates for Zafgen in a report released on Wednesday, August 8th. Leerink Swann analyst J. Schwartz now anticipates that the biopharmaceutical company will post earnings per share of ($0.46) for the quarter, up from their prior estimate of ($0.64). Leerink Swann also issued estimates for Zafgen’s Q4 2018 earnings at ($0.50) EPS, FY2018 earnings at ($2.09) EPS and FY2019 earnings at ($1.81) EPS.
Other analysts have also issued research reports about the company. BidaskClub raised Zafgen from a “hold” rating to a “buy” rating in a report on Tuesday, July 3rd. ValuEngine raised Zafgen from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Cowen reissued a “hold” rating on shares of Zafgen in a report on Wednesday, May 9th. Zacks Investment Research raised Zafgen from a “sell” rating to a “hold” rating in a report on Saturday, May 5th. Finally, Wedbush assumed coverage on Zafgen in a research note on Thursday, August 2nd. They issued an “outperform” rating and a $14.00 price objective for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $15.25.
Zafgen (NASDAQ:ZFGN) last released its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.59) by $0.02.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZFGN. BlackRock Inc. boosted its stake in shares of Zafgen by 283.6% in the second quarter. BlackRock Inc. now owns 1,437,932 shares of the biopharmaceutical company’s stock worth $14,711,000 after acquiring an additional 1,063,080 shares during the period. Citadel Advisors LLC bought a new position in Zafgen during the first quarter valued at approximately $2,347,000. Nexthera Capital LP boosted its stake in Zafgen by 134.2% during the first quarter. Nexthera Capital LP now owns 401,558 shares of the biopharmaceutical company’s stock valued at $2,992,000 after buying an additional 230,123 shares during the last quarter. Artal Group S.A. boosted its stake in Zafgen by 20.0% during the first quarter. Artal Group S.A. now owns 1,200,000 shares of the biopharmaceutical company’s stock valued at $8,940,000 after buying an additional 200,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Zafgen by 25.3% during the first quarter. Dimensional Fund Advisors LP now owns 864,972 shares of the biopharmaceutical company’s stock valued at $6,444,000 after buying an additional 174,482 shares during the last quarter. 57.67% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Thomas E. Hughes sold 32,000 shares of the company’s stock in a transaction dated Thursday, June 28th. The stock was sold at an average price of $10.00, for a total value of $320,000.00. Following the completion of the transaction, the insider now owns 125,247 shares of the company’s stock, valued at $1,252,470. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 23.70% of the company’s stock.
Zafgen Company Profile
Zafgen, Inc, a clinical-stage biopharmaceutical company, develops therapies for patients suffering from metabolic diseases comprising type 2 diabetes, Prader-Willi syndrome (PWS), and other metabolically related disorders. The company's lead product candidate is ZGN-1061, a fumagillin-class methionine aminopeptidase 2 (MetAP2) inhibitor administered by subcutaneous injection, which is in Phase 2 clinical trial and profiled for its utility in the treatment of type 2 diabetes and other related metabolic disorders.
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