Zafgen, Inc. (ZFGN) Lifted to Buy at Zacks Investment Research
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.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Watch List News and is owned by of Watch List News. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.watchlistnews.com/zafgen-inc-zfgn-lifted-to-buy-at-zacks-investment-research/1580396.html.
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.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Zafgen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zafgen Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.