Zafgen Inc. (ZFGN) Cut to “Hold” at Zacks Investment Research
Zafgen Inc. (NASDAQ:ZFGN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “
Other equities analysts have also recently issued reports about the company. FBR & Co restated a “buy” rating on shares of Zafgen in a research report on Monday, June 13th. Cowen and Company restated a “buy” rating and set a $60.00 target price on shares of Zafgen in a research report on Thursday, August 25th. Canaccord Genuity set a $4.00 target price on Zafgen and gave the stock a “hold” rating in a research report on Thursday, July 21st. Finally, Leerink Swann restated a “market perform” rating and set a $6.00 target price on shares of Zafgen in a research report on Wednesday, July 20th. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.22.
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Zafgen (NASDAQ:ZFGN) traded up 5.539% during trading on Wednesday, reaching $3.525. The company’s stock had a trading volume of 588,342 shares. The company’s market cap is $96.33 million. The stock has a 50-day moving average price of $3.13 and a 200 day moving average price of $5.42. Zafgen has a 52-week low of $2.90 and a 52-week high of $44.98.
In related news, CFO Patricia L. Allen bought 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was bought at an average cost of $3.12 per share, for a total transaction of $49,920.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frances K. Heller bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The shares were bought at an average price of $2.99 per share, with a total value of $29,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $29,900. The disclosure for this purchase can be found here. Corporate insiders own 20.30% of the company’s stock.
Large investors have recently modified their holdings of the stock. Bellevue Group AG bought a new stake in shares of Zafgen during the first quarter valued at $134,000. VHCP Management II LLC bought a new stake in shares of Zafgen during the first quarter valued at $945,000. BlackRock Fund Advisors boosted its stake in shares of Zafgen by 4.2% in the first quarter. BlackRock Fund Advisors now owns 785,896 shares of the biopharmaceutical company’s stock valued at $5,250,000 after buying an additional 31,429 shares in the last quarter. Granahan Investment Management Inc. MA boosted its stake in shares of Zafgen by 25.7% in the first quarter. Granahan Investment Management Inc. MA now owns 363,029 shares of the biopharmaceutical company’s stock valued at $2,425,000 after buying an additional 74,150 shares in the last quarter. Finally, Deerfield Management Co. boosted its stake in shares of Zafgen by 262.2% in the first quarter. Deerfield Management Co. now owns 3,055,603 shares of the biopharmaceutical company’s stock valued at $20,411,000 after buying an additional 2,211,938 shares in the last quarter. Institutional investors own 62.83% of the company’s stock.
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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