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 Saturday morning. Zacks Investment Research currently has $4.25 price target 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 Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $6.63.
Shares of Zafgen (NASDAQ:ZFGN) opened at $3.65 on Friday. Zafgen has a 52 week low of $3.11 and a 52 week high of $5.46.
Zafgen (NASDAQ:ZFGN) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.46) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.12. analysts expect that Zafgen will post -2.02 EPS for the current fiscal year.
In related news, Director Frances K. Heller purchased 10,000 shares of Zafgen stock in a transaction dated Friday, October 13th. The shares were acquired at an average cost of $3.90 per share, for a total transaction of $39,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 21.20% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Zafgen by 15.7% in the 2nd quarter. Vanguard Group Inc. now owns 883,838 shares of the biopharmaceutical company’s stock worth $3,102,000 after purchasing an additional 119,902 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Zafgen by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 584,159 shares of the biopharmaceutical company’s stock worth $2,050,000 after purchasing an additional 140,848 shares during the last quarter. Mangrove Partners bought a new position in shares of Zafgen in the 3rd quarter worth $1,971,000. JPMorgan Chase & Co. boosted its position in shares of Zafgen by 937.6% in 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 during the last quarter. Finally, Spark Investment Management LLC boosted its position in shares of Zafgen by 49.5% in the 2nd quarter. Spark Investment Management LLC now owns 282,200 shares of the biopharmaceutical company’s stock worth $990,000 after purchasing an additional 93,500 shares during the last quarter. Institutional investors and hedge funds own 48.40% of the company’s stock.
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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