Zacks Investment Research upgraded shares of Zafgen, Inc. (NASDAQ:ZFGN) from a hold rating to a buy rating in a report released on Saturday, July 8th. They currently have $4.00 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. “
A number of other equities research analysts have also issued reports on ZFGN. ValuEngine raised shares of Zafgen from a strong sell rating to a sell rating in a report on Thursday, July 6th. Cowen and Company reissued a hold rating on shares of Zafgen in a report on Friday, March 10th. Finally, Roth Capital started coverage on shares of Zafgen in a research note on Thursday, April 20th. They set a buy rating and a $9.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Zafgen presently has a consensus rating of Hold and a consensus price target of $14.67.
Zafgen (ZFGN) opened at 3.67 on Friday. The company’s 50 day moving average price is $3.80 and its 200 day moving average price is $4.11. The firm’s market cap is $100.46 million. Zafgen has a 52-week low of $2.89 and a 52-week high of $6.87.
Zafgen (NASDAQ:ZFGN) last issued its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by $0.05. Analysts predict that Zafgen will post ($2.34) earnings per share for the current fiscal year.
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In other Zafgen news, insider Dennis D. Kim purchased 10,000 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was bought at an average cost of $4.40 per share, with a total value of $44,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 21.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in shares of Zafgen by 41.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 306,462 shares of the biopharmaceutical company’s stock worth $975,000 after buying an additional 89,805 shares during the period. Federated Investors Inc. PA boosted its position in shares of Zafgen by 27.0% in the fourth quarter. Federated Investors Inc. PA now owns 129,661 shares of the biopharmaceutical company’s stock valued at $412,000 after buying an additional 27,533 shares during the period. Candriam Luxembourg S.C.A. boosted its position in shares of Zafgen by 97.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 213,000 shares of the biopharmaceutical company’s stock valued at $993,000 after buying an additional 105,000 shares during the period. Nine Chapters Capital Management LLC purchased a new position in shares of Zafgen during the first quarter valued at about $170,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Zafgen by 937.6% in the first quarter. JPMorgan Chase & Co. now owns 495,743 shares of the biopharmaceutical company’s stock valued at $2,311,000 after buying an additional 447,964 shares during the period. 52.00% of the stock is owned by 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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