Zafgen Inc. (ZFGN) Receives “Hold” Rating from FBR & Co
Zafgen Inc. (NASDAQ:ZFGN)‘s stock had its “hold” rating reissued by equities researchers at FBR & Co in a research report issued to clients and investors on Tuesday.
Several other brokerages have also issued reports on ZFGN. Zacks Investment Research upgraded Zafgen from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a report on Tuesday, July 26th. Cowen and Company reiterated a “buy” rating and set a $60.00 price target on shares of Zafgen in a report on Thursday, August 25th. Canaccord Genuity set a $4.00 price target on Zafgen and gave the company a “hold” rating in a report on Thursday, July 21st. Finally, Leerink Swann reiterated a “market perform” rating and set a $6.00 price target on shares of Zafgen in a report on Wednesday, July 20th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $14.22.
Shares of Zafgen (NASDAQ:ZFGN) traded down 1.50% during mid-day trading on Tuesday, reaching $3.29. 1,451,759 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $3.13 and a 200-day moving average price of $5.42. Zafgen has a 1-year low of $2.90 and a 1-year high of $44.98. The company’s market capitalization is $89.91 million.
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In other Zafgen news, CFO Patricia L. Allen purchased 16,000 shares of the business’s stock in a transaction dated 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances K. Heller purchased 10,000 shares of the business’s stock in a transaction dated Friday, July 22nd. The shares were acquired 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 owns 10,000 shares of the company’s stock, valued at $29,900. The disclosure for this purchase can be found here. Insiders own 20.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ZFGN. ProShare Advisors LLC raised its position in shares of 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. Alps Advisors Inc. raised its position in shares of 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. Geode Capital Management LLC raised its position in shares of Zafgen by 10.3% in the first quarter. Geode Capital Management LLC now owns 128,152 shares of the biopharmaceutical company’s stock worth $856,000 after buying an additional 11,965 shares during the period. 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 worth $287,000 after buying an additional 12,104 shares during the period. Finally, Rhumbline Advisers raised its position in shares of 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. 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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