Zacks Investment Research upgraded shares of Zafgen (NASDAQ:ZFGN) from a hold rating to a buy rating in a research note released on Sunday morning, Zacks.com reports. Zacks Investment Research currently has $1.00 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. “
Other equities research analysts also recently issued research reports about the company. Roth Capital downgraded Zafgen from a buy rating to a neutral rating in a report on Friday, September 6th. Piper Jaffray Companies reduced their price target on shares of Zafgen from $6.00 to $5.00 and set a hold rating for the company in a research report on Thursday, May 30th. ValuEngine upgraded shares of Zafgen from a sell rating to a hold rating in a research note on Thursday, August 1st. JMP Securities downgraded shares of Zafgen from an outperform rating to a market perform rating in a report on Thursday, September 5th. Finally, Wedbush cut shares of Zafgen from an outperform rating to a neutral rating and reduced their price objective for the company from $6.00 to $0.78 in a report on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Zafgen currently has a consensus rating of Hold and a consensus target price of $6.05.
Shares of NASDAQ ZFGN opened at $0.66 on Friday. The firm has a market capitalization of $24.66 million, a P/E ratio of -0.35 and a beta of -0.52. The firm’s 50-day moving average price is $0.87 and its 200-day moving average price is $2.06. The company has a current ratio of 6.98, a quick ratio of 6.98 and a debt-to-equity ratio of 0.25. Zafgen has a 1-year low of $0.63 and a 1-year high of $12.35.
Zafgen (NASDAQ:ZFGN) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.06. Equities research analysts forecast that Zafgen will post -1.15 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of ZFGN. AWM Investment Company Inc. grew its position in Zafgen by 32.4% in the 2nd quarter. AWM Investment Company Inc. now owns 1,857,171 shares of the biopharmaceutical company’s stock worth $2,210,000 after purchasing an additional 454,874 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Zafgen by 71.2% in the second quarter. Renaissance Technologies LLC now owns 1,678,300 shares of the biopharmaceutical company’s stock valued at $1,997,000 after acquiring an additional 697,724 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Zafgen by 2.2% during the second quarter. Citadel Advisors LLC now owns 971,818 shares of the biopharmaceutical company’s stock valued at $1,156,000 after acquiring an additional 20,953 shares during the last quarter. Worth Venture Partners LLC bought a new stake in Zafgen during the second quarter worth $316,000. Finally, Morgan Stanley lifted its holdings in Zafgen by 150.8% during the second quarter. Morgan Stanley now owns 184,606 shares of the biopharmaceutical company’s stock worth $220,000 after acquiring an additional 110,989 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.
Zafgen Company Profile
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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