Zacks Investment Research cut shares of Zafgen (NASDAQ:ZFGN) from a buy rating to a hold rating in a research note released on Friday morning.
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 research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Zafgen from a strong-buy rating to a buy rating in a report on Friday, October 5th. ValuEngine raised shares of Zafgen from a buy rating to a strong-buy rating in a report on Saturday, November 10th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Zafgen currently has a consensus rating of Hold and a consensus target price of $14.44.
Shares of NASDAQ ZFGN traded up $0.04 during midday trading on Friday, reaching $5.12. The company had a trading volume of 163,960 shares, compared to its average volume of 503,863. The stock has a market cap of $187.30 million, a P/E ratio of -2.69 and a beta of -0.35. Zafgen has a 1 year low of $3.57 and a 1 year high of $12.35. The company has a current ratio of 11.78, a quick ratio of 11.78 and a debt-to-equity ratio of 0.16.
Zafgen (NASDAQ:ZFGN) last posted its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.04. As a group, sell-side analysts forecast that Zafgen will post -1.96 earnings per share for the current year.
Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of Zafgen by 47.6% during the third quarter. BlackRock Inc. now owns 2,121,820 shares of the biopharmaceutical company’s stock worth $24,805,000 after purchasing an additional 683,888 shares during the last quarter. 683 Capital Management LLC raised its holdings in shares of Zafgen by 23.1% during the second quarter. 683 Capital Management LLC now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $16,368,000 after purchasing an additional 300,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Zafgen by 14.1% during the third quarter. Vanguard Group Inc. now owns 1,468,584 shares of the biopharmaceutical company’s stock worth $17,168,000 after purchasing an additional 181,396 shares during the last quarter. Citadel Advisors LLC raised its holdings in shares of Zafgen by 109.3% during the third quarter. Citadel Advisors LLC now owns 1,045,552 shares of the biopharmaceutical company’s stock worth $12,223,000 after purchasing an additional 545,914 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Zafgen by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 914,694 shares of the biopharmaceutical company’s stock worth $9,357,000 after purchasing an additional 49,722 shares during the last quarter. 81.55% of the stock is owned by hedge funds and other institutional investors.
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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