Shares of Zafgen Inc. (NASDAQ:ZFGN) rose 5.4% during mid-day trading on Tuesday . The stock traded as high as $3.34 and last traded at $3.31, with a volume of 298,800 shares traded. The stock had previously closed at $3.14.

ZFGN has been the topic of several analyst reports. Cowen and Company reiterated a “buy” rating and set a $60.00 target price on shares of Zafgen in a report on Thursday, August 25th. Leerink Swann reiterated a “market perform” rating and set a $6.00 target price on shares of Zafgen in a report on Wednesday, July 20th. FBR & Co reiterated a “buy” rating on shares of Zafgen in a report on Monday, June 13th. Zacks Investment Research upgraded Zafgen from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a report on Tuesday, July 26th. Finally, Canaccord Genuity set a $4.00 target price on Zafgen and gave the stock a “hold” rating in a report on Thursday, July 21st. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Zafgen presently has a consensus rating of “Buy” and an average target price of $14.22.

The company’s 50-day moving average is $3.12 and its 200-day moving average is $5.44. The stock’s market cap is $91.74 million.

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In related news, CFO Patricia L. Allen purchased 16,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was acquired at an average price of $3.12 per share, for a total transaction of $49,920.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas E. Hughes purchased 10,000 shares of the business’s stock in a transaction on Monday, August 29th. The shares were bought at an average price of $3.00 per share, with a total value of $30,000.00. Following the purchase, the insider now directly owns 63,936 shares in the company, valued at approximately $191,808. The disclosure for this purchase can be found here. Company insiders own 20.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ZFGN. Alliancebernstein L.P. bought a new position in Zafgen during the second quarter worth about $114,000. Bellevue Group AG bought a new position in Zafgen during the first quarter worth about $134,000. ProShare Advisors LLC increased its position in Zafgen by 4.9% in the second quarter. ProShare Advisors LLC now owns 23,099 shares of the biopharmaceutical company’s stock worth $138,000 after buying an additional 1,075 shares during the period. Rhumbline Advisers increased its position in Zafgen by 103.0% in the second quarter. Rhumbline Advisers now owns 34,692 shares of the biopharmaceutical company’s stock worth $208,000 after buying an additional 17,602 shares during the period. Finally, Alps Advisors Inc. increased its position in Zafgen by 25.1% in the second quarter. Alps Advisors Inc. now owns 38,312 shares of the biopharmaceutical company’s stock worth $229,000 after buying an additional 7,683 shares during the period. Institutional investors and hedge funds own 62.83% 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.

5 Day Chart for NASDAQ:ZFGN

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