Zacks Investment Research upgraded shares of Zafgen, Inc. (NASDAQ:ZFGN) from a hold rating to a buy rating in a research note issued to investors on Tuesday. Zacks Investment Research currently has $3.75 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. “

Separately, ValuEngine cut Zafgen from a sell rating to a strong sell rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Zafgen currently has a consensus rating of Hold and a consensus target price of $6.38.

Zafgen (NASDAQ:ZFGN) traded up 2.41% on Tuesday, hitting $3.40. 8,934 shares of the stock traded hands. The stock’s market capitalization is $93.44 million. Zafgen has a 12-month low of $2.89 and a 12-month high of $5.46. The company’s 50 day moving average price is $3.46 and its 200-day moving average price is $3.97.

Zafgen (NASDAQ:ZFGN) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.03. During the same quarter last year, the company earned ($0.55) earnings per share. Analysts predict that Zafgen will post ($2.23) EPS for the current year.

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In other Zafgen news, insider Dennis D. Kim bought 10,000 shares of the stock in a transaction that occurred on Tuesday, July 11th. The stock was acquired at an average cost of $3.39 per share, with a total value of $33,900.00. Following the purchase, the insider now owns 21,443 shares in the company, valued at $72,691.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.20% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ZFGN. Wells Fargo & Company MN increased its stake in Zafgen by 1,290.3% during the 1st quarter. Wells Fargo & Company MN now owns 43,531 shares of the biopharmaceutical company’s stock worth $203,000 after purchasing an additional 40,400 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Zafgen by 5.9% during the 1st quarter. Bank of New York Mellon Corp now owns 104,199 shares of the biopharmaceutical company’s stock worth $485,000 after purchasing an additional 5,794 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in Zafgen by 55.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 28,832 shares of the biopharmaceutical company’s stock worth $134,000 after purchasing an additional 10,327 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Zafgen by 937.6% during the 1st quarter. JPMorgan Chase & Co. now owns 495,743 shares of the biopharmaceutical company’s stock worth $2,311,000 after purchasing an additional 447,964 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in Zafgen by 40.9% during the 1st quarter. TIAA CREF Investment Management LLC now owns 169,836 shares of the biopharmaceutical company’s stock worth $791,000 after purchasing an additional 49,308 shares in the last quarter. 48.52% of the stock is owned by institutional investors and hedge funds.

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.

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