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

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. “

Separately, ValuEngine cut Zafgen from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $6.50.

Shares of Zafgen (NASDAQ:ZFGN) traded down 0.56% on Friday, reaching $3.52. 29,020 shares of the company’s stock were exchanged. The firm’s market cap is $96.74 million. The company has a 50 day moving average price of $3.46 and a 200 day moving average price of $4.00. Zafgen has a one year low of $2.89 and a one year high of $5.46.

Zafgen (NASDAQ:ZFGN) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.03. During the same period in the previous year, the firm earned ($0.55) EPS. Analysts expect that Zafgen will post ($2.23) EPS for the current fiscal year.

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In other news, insider Dennis D. Kim acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were acquired at an average cost of $3.39 per share, with a total value of $33,900.00. Following the acquisition, the insider now directly owns 21,443 shares of the company’s stock, valued at $72,691.77. The transaction was disclosed in a document filed with the SEC, which is available at this link. 21.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Zafgen by 15.7% during the 2nd quarter. Vanguard Group Inc. now owns 883,838 shares of the biopharmaceutical company’s stock worth $3,102,000 after acquiring an additional 119,902 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Zafgen by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 584,159 shares of the biopharmaceutical company’s stock worth $2,050,000 after acquiring an additional 140,848 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Zafgen by 937.6% during the 1st quarter. JPMorgan Chase & Co. now owns 495,743 shares of the biopharmaceutical company’s stock worth $2,311,000 after acquiring an additional 447,964 shares in the last quarter. Spark Investment Management LLC raised its holdings in shares of Zafgen by 49.5% during the 2nd quarter. Spark Investment Management LLC now owns 282,200 shares of the biopharmaceutical company’s stock worth $990,000 after acquiring an additional 93,500 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Zafgen by 1,701.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 197,287 shares of the biopharmaceutical company’s stock worth $692,000 after acquiring an additional 186,336 shares in the last quarter. 48.52% 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.

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