Zafgen Inc. (NASDAQ:ZFGN)’s share price shot up 5.4% on Tuesday . The stock traded as high as $3.34 and last traded at $3.31, with a volume of 298,800 shares trading hands. The stock had previously closed at $3.14.

Several research firms recently weighed in on ZFGN. FBR & Co restated a “hold” rating on shares of Zafgen in a report on Tuesday. Zacks Investment Research lowered shares of Zafgen from a “buy” rating to a “hold” rating in a report on Wednesday. Cowen and Company restated a “buy” rating and set a $60.00 target price on shares of Zafgen in a report on Thursday, August 25th. Canaccord Genuity set a $4.00 target price on shares of Zafgen and gave the company a “hold” rating in a report on Thursday, July 21st. Finally, Leerink Swann reaffirmed a “market perform” rating and set a $6.00 price target on shares of Zafgen in a research note on Wednesday, July 20th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Zafgen presently has an average rating of “Hold” and a consensus target price of $14.22.

The firm has a 50 day moving average of $3.13 and a 200-day moving average of $5.40. The company’s market capitalization is $89.09 million.

In other Zafgen news, insider Thomas E. Hughes bought 10,000 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was bought at an average cost of $3.00 per share, with a total value of $30,000.00. Following the completion of the transaction, the insider now directly owns 63,936 shares of the company’s stock, valued at approximately $191,808. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Patricia L. Allen bought 16,000 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was acquired at an average cost of $3.12 per share, with a total value of $49,920.00. The disclosure for this purchase can be found here. 20.30% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of ZFGN. Deerfield Management Co. increased its stake in Zafgen by 262.2% in the first quarter. Deerfield Management Co. now owns 3,055,603 shares of the biopharmaceutical company’s stock valued at $20,411,000 after buying an additional 2,211,938 shares in the last quarter. Bridgeway Capital Management Inc. acquired a new stake in Zafgen during the second quarter valued at approximately $1,655,000. Spark Investment Management LLC acquired a new stake in Zafgen during the second quarter valued at approximately $1,199,000. BlackRock Fund Advisors increased its stake in Zafgen by 18.3% in the second quarter. BlackRock Fund Advisors now owns 929,566 shares of the biopharmaceutical company’s stock valued at $5,568,000 after buying an additional 143,670 shares in the last quarter. Finally, VHCP Management II LLC acquired a new stake in Zafgen during the first quarter valued at approximately $945,000. 62.83% of the stock is owned by institutional investors.

About Zafgen

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.

5 Day Chart for NASDAQ:ZFGN

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