Zafgen, Inc. (ZFGN) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Zafgen, Inc. (NASDAQ:ZFGN) from a hold rating to a buy rating in a research report report published on Saturday. They currently have $4.25 price target 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. “

Separately, ValuEngine cut shares of Zafgen from a sell rating to a strong sell rating in a research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Zafgen has a consensus rating of Hold and an average target price of $6.63.

Zafgen (NASDAQ ZFGN) opened at $3.65 on Friday. Zafgen has a one year low of $3.11 and a one year high of $5.46.

Zafgen (NASDAQ:ZFGN) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.12. analysts expect that Zafgen will post -2.02 earnings per share for the current year.

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In related news, Director Frances K. Heller purchased 10,000 shares of the firm’s stock in a transaction on Friday, October 13th. The shares were acquired at an average price of $3.90 per share, for a total transaction of $39,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.20% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of Zafgen by 5.9% in the 1st quarter. Bank of New York Mellon Corp now owns 104,199 shares of the biopharmaceutical company’s stock worth $485,000 after buying an additional 5,794 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Zafgen by 55.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 28,832 shares of the biopharmaceutical company’s stock worth $134,000 after buying an additional 10,327 shares during the last quarter. Paloma Partners Management Co increased its holdings in shares of Zafgen by 17.4% in the 1st quarter. Paloma Partners Management Co now owns 130,000 shares of the biopharmaceutical company’s stock worth $606,000 after buying an additional 19,278 shares during the last quarter. Algert Global LLC bought a new stake in shares of Zafgen in the 2nd quarter worth about $123,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Zafgen by 1,290.3% in the 1st quarter. Wells Fargo & Company MN now owns 43,531 shares of the biopharmaceutical company’s stock worth $203,000 after buying an additional 40,400 shares during the last quarter. Hedge funds and other institutional investors own 48.40% of the company’s stock.

Zafgen Company Profile

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.

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