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.

WARNING: This report was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this report on another site, it was illegally copied and reposted in violation of US and international trademark and copyright law. The correct version of this report can be viewed at https://www.watchlistnews.com/zafgen-inc-zfgn-upgraded-to-buy-at-zacks-investment-research/1477814.html.

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.

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.

Get a free copy of the Zacks research report on Zafgen (ZFGN)

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.