Zafgen (NASDAQ:ZFGN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, March 7th. The firm presently has a $9.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 15.98% 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. “
Other equities analysts have also recently issued research reports about the stock. JMP Securities reiterated an “outperform” rating and issued a $20.00 price target (up previously from $11.00) on shares of Zafgen in a research note on Wednesday, March 7th. ValuEngine upgraded shares of Zafgen from a “strong sell” rating to a “sell” rating in a research note on Friday, February 2nd.
Shares of Zafgen (NASDAQ ZFGN) traded up $0.12 during trading on Wednesday, reaching $7.76. 97,985 shares of the company’s stock were exchanged, compared to its average volume of 240,469. The stock has a market cap of $219.09, a P/E ratio of -4.06 and a beta of -0.65. Zafgen has a fifty-two week low of $3.21 and a fifty-two week high of $10.00.
Zafgen (NASDAQ:ZFGN) last announced its earnings results on Tuesday, March 6th. The biopharmaceutical company reported ($0.48) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.57) by $0.09. analysts predict that Zafgen will post -2.2 earnings per share for the current fiscal year.
In other Zafgen news, insider Thomas E. Hughes sold 5,000 shares of the business’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $10.00, for a total value of $50,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 21.20% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the business. Two Sigma Investments LP raised its position in Zafgen by 91.1% in the 4th quarter. Two Sigma Investments LP now owns 61,048 shares of the biopharmaceutical company’s stock worth $282,000 after buying an additional 29,101 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Zafgen by 139.1% during the 4th quarter. Bank of New York Mellon Corp now owns 87,571 shares of the biopharmaceutical company’s stock valued at $405,000 after purchasing an additional 50,939 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Zafgen by 18.3% during the 4th quarter. Acadian Asset Management LLC now owns 104,014 shares of the biopharmaceutical company’s stock valued at $481,000 after purchasing an additional 16,072 shares during the last quarter. OxFORD Asset Management LLP increased its position in shares of Zafgen by 65.0% during the 3rd quarter. OxFORD Asset Management LLP now owns 171,112 shares of the biopharmaceutical company’s stock valued at $585,000 after purchasing an additional 67,394 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Zafgen by 1,701.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 197,287 shares of the biopharmaceutical company’s stock valued at $692,000 after purchasing an additional 186,336 shares during the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Zafgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zafgen and related companies with MarketBeat.com's FREE daily email newsletter.