Zafgen Inc (NASDAQ:ZFGN)’s share price fell 1.4% during trading on Wednesday . The stock traded as low as $2.89 and last traded at $2.85. 824,367 shares changed hands during trading, an increase of 196% from the average session volume of 278,374 shares. The stock had previously closed at $2.89.
Several brokerages have recently commented on ZFGN. Zacks Investment Research cut shares of Zafgen from a “buy” rating to a “hold” rating in a research report on Friday, December 7th. ValuEngine cut shares of Zafgen from a “buy” rating to a “hold” rating in a report on Monday, November 26th. Cowen reissued a “hold” rating on shares of Zafgen in a report on Thursday, January 17th. Piper Jaffray Companies cut their price target on Zafgen from $18.00 to $6.00 and set a “hold” rating on the stock in a report on Monday. Finally, BidaskClub cut Zafgen from a “buy” rating to a “hold” rating in a report on Thursday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $9.45.
The firm has a market cap of $106.56 million, a price-to-earnings ratio of -1.59 and a beta of -0.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 11.78 and a quick ratio of 11.78.
Zafgen (NASDAQ:ZFGN) last released its quarterly earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.43) by $0.04. On average, sell-side analysts predict that Zafgen Inc will post -1.76 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Zafgen by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 420,983 shares of the biopharmaceutical company’s stock valued at $2,083,000 after acquiring an additional 22,235 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Zafgen by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 904,194 shares of the biopharmaceutical company’s stock valued at $4,476,000 after acquiring an additional 21,423 shares during the period. 683 Capital Management LLC increased its stake in shares of Zafgen by 7.7% during the fourth quarter. 683 Capital Management LLC now owns 1,400,000 shares of the biopharmaceutical company’s stock valued at $6,930,000 after acquiring an additional 100,000 shares during the period. Great Point Partners LLC increased its stake in shares of Zafgen by 6.1% during the fourth quarter. Great Point Partners LLC now owns 3,598,392 shares of the biopharmaceutical company’s stock valued at $17,812,000 after acquiring an additional 207,007 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Zafgen during the fourth quarter valued at approximately $99,000. 86.09% of the stock is currently owned by institutional investors.
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About Zafgen (NASDAQ:ZFGN)
Zafgen, Inc, a clinical-stage biopharmaceutical company, develops therapies for patients suffering from metabolic diseases comprising type 2 diabetes, Prader-Willi syndrome (PWS), and other metabolically related disorders. The company's lead product candidate is ZGN-1061, a fumagillin-class methionine aminopeptidase 2 (MetAP2) inhibitor administered by subcutaneous injection, which is in Phase 2 clinical trial and profiled for its utility in the treatment of type 2 diabetes and other related metabolic disorders.
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