Zafgen Inc. (NASDAQ:ZFGN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

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 research analysts have also issued reports on ZFGN. FBR & Co reissued a “buy” rating on shares of Zafgen in a research report on Monday, June 13th. Cowen and Company lowered shares of Zafgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 20th. Leerink Swann reissued a “market perform” rating and issued a $6.00 price target on shares of Zafgen in a research report on Wednesday, July 20th. Finally, Canaccord Genuity set a $4.00 price target on shares of Zafgen and gave the stock a “hold” rating in a research report on Thursday, July 21st. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $14.22.

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Shares of Zafgen (NASDAQ:ZFGN) traded up 4.79% during midday trading on Wednesday, reaching $3.50. The company had a trading volume of 578,267 shares. Zafgen has a 12 month low of $2.90 and a 12 month high of $44.98. The firm’s 50 day moving average price is $3.13 and its 200-day moving average price is $5.42. The company’s market capitalization is $95.65 million.

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

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. raised its position in shares of Zafgen by 23.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 503,109 shares of the biopharmaceutical company’s stock valued at $3,014,000 after buying an additional 95,945 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Zafgen by 18.3% in the second quarter. BlackRock Fund Advisors now owns 929,566 shares of the biopharmaceutical company’s stock valued at $5,568,000 after buying an additional 143,670 shares in the last quarter. BlackRock Investment Management LLC raised its position in shares of Zafgen by 51.9% in the second quarter. BlackRock Investment Management LLC now owns 89,327 shares of the biopharmaceutical company’s stock valued at $535,000 after buying an additional 30,515 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Zafgen by 18.2% in the second quarter. Vanguard Group Inc. now owns 805,362 shares of the biopharmaceutical company’s stock valued at $4,824,000 after buying an additional 123,850 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Zafgen by 33.8% in the second quarter. California State Teachers Retirement System now owns 47,925 shares of the biopharmaceutical company’s stock valued at $287,000 after buying an additional 12,104 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.

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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