Zafgen, Inc. (ZFGN) Upgraded to “Buy” at Zacks Investment Research
Zafgen, Inc. (NASDAQ:ZFGN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The firm presently has a $3.75 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.29% from the stock’s current price.
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. “
ZFGN has been the subject of a number of other reports. Roth Capital began coverage on Zafgen in a research note on Thursday, April 20th. They issued a “buy” rating and a $9.00 target price for the company. ValuEngine cut Zafgen from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Zafgen has an average rating of “Hold” and a consensus target price of $24.25.
Zafgen (ZFGN) opened at 3.40 on Friday. The company’s market cap is $93.06 million. The company’s 50-day moving average price is $3.50 and its 200 day moving average price is $4.08. Zafgen has a 52 week low of $2.89 and a 52 week high of $5.46.
Zafgen (NASDAQ:ZFGN) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.03. During the same period last year, the firm earned ($0.55) earnings per share. On average, analysts anticipate that Zafgen will post ($2.23) EPS for the current year.
In other news, insider Dennis D. Kim acquired 10,000 shares of Zafgen stock in a transaction dated Tuesday, July 11th. The stock was bought at an average cost of $3.39 per share, with a total value of $33,900.00. Following the completion of the transaction, the insider now directly owns 21,443 shares of the company’s stock, valued at $72,691.77. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 21.20% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Zafgen by 937.6% in the first quarter. JPMorgan Chase & Co. now owns 495,743 shares of the biopharmaceutical company’s stock valued at $2,311,000 after buying an additional 447,964 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Zafgen during the first quarter valued at $840,000. Dimensional Fund Advisors LP boosted its position in Zafgen by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 584,159 shares of the biopharmaceutical company’s stock valued at $2,050,000 after buying an additional 140,848 shares in the last quarter. Vanguard Group Inc. boosted its position in Zafgen by 15.7% in the second quarter. Vanguard Group Inc. now owns 883,838 shares of the biopharmaceutical company’s stock valued at $3,102,000 after buying an additional 119,902 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its position in Zafgen by 97.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 213,000 shares of the biopharmaceutical company’s stock valued at $993,000 after buying an additional 105,000 shares in the last quarter. 52.54% of the stock is owned by institutional investors.
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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