Zafgen Inc (NASDAQ:ZFGN) Given Consensus Rating of “Hold” by Brokerages
Zafgen Inc (NASDAQ:ZFGN) has received an average recommendation of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $8.10.
Several research firms have recently commented on ZFGN. ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Cowen reaffirmed a “hold” rating on shares of Zafgen in a research report on Thursday, May 30th. Zacks Investment Research reaffirmed a “sell” rating on shares of ZALANDO SE/ADR in a research report on Sunday, June 30th. Wedbush reaffirmed a “buy” rating and issued a $6.00 target price on shares of Zafgen in a research report on Thursday, May 30th. Finally, Piper Jaffray Companies downgraded Mallinckrodt from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $39.00 to $9.00 in a research report on Thursday, May 30th.
Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Zafgen during the first quarter worth $43,000. Prudential Financial Inc. bought a new stake in Zafgen during the fourth quarter worth $65,000. Alambic Investment Management L.P. bought a new stake in Zafgen during the first quarter worth $95,000. Wedbush Securities Inc. bought a new stake in Zafgen during the first quarter worth $96,000. Finally, Bank of America Corp DE lifted its stake in Zafgen by 155.5% during the fourth quarter. Bank of America Corp DE now owns 19,909 shares of the biopharmaceutical company’s stock worth $98,000 after purchasing an additional 12,116 shares during the last quarter. Institutional investors and hedge funds own 84.26% of the company’s stock.
Zafgen (NASDAQ:ZFGN) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.05. On average, analysts forecast that Zafgen will post -1.4 earnings per share for the current year.
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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