Zafgen (ZFGN) Downgraded by Zacks Investment Research

Zafgen (NASDAQ:ZFGN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday. They currently have a $6.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price points to a potential upside of 19.05% from the stock’s previous close.

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. “

Several other analysts have also issued reports on the stock. BidaskClub upgraded shares of Zafgen from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 27th. ValuEngine upgraded shares of Zafgen from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 10th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $14.50.

Shares of NASDAQ ZFGN traded down $0.05 during trading on Friday, hitting $5.04. The stock had a trading volume of 241,350 shares, compared to its average volume of 494,524. Zafgen has a 12 month low of $3.55 and a 12 month high of $12.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 11.78 and a quick ratio of 11.78. The firm has a market cap of $187.67 million, a price-to-earnings ratio of -2.65 and a beta of -0.23.

Zafgen (NASDAQ:ZFGN) last posted its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.04. On average, research analysts anticipate that Zafgen will post -1.98 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acuta Capital Partners LLC bought a new stake in shares of Zafgen in the 2nd quarter worth $2,558,000. Private Advisor Group LLC purchased a new position in shares of Zafgen in the 2nd quarter worth about $153,000. AlpInvest Partners B.V. purchased a new position in shares of Zafgen in the 2nd quarter worth about $1,436,000. Rhumbline Advisers purchased a new position in shares of Zafgen in the 2nd quarter worth about $214,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Zafgen in the 2nd quarter worth about $5,013,000. Hedge funds and other institutional investors own 70.20% of the company’s stock.

About Zafgen

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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