Zafgen, Inc. (NASDAQ:ZFGN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $3.75 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 10.29% from the company’s current price.

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 lowered shares of Zafgen from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Zafgen currently has an average rating of “Hold” and an average price target of $6.38.

Shares of Zafgen (NASDAQ:ZFGN) traded up 0.8853% during trading on Wednesday, reaching $3.4301. 18,893 shares of the company traded hands. Zafgen has a 52 week low of $2.89 and a 52 week high of $5.46. The firm has a 50 day moving average of $3.46 and a 200 day moving average of $4.00. The stock’s market capitalization is $94.27 million.

Zafgen (NASDAQ:ZFGN) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.49) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.03. During the same quarter in the previous year, the business earned ($0.55) EPS. On average, equities analysts predict that Zafgen will post ($2.23) EPS for the current year.

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In related news, insider Dennis D. Kim acquired 10,000 shares of the stock in a transaction on Tuesday, July 11th. The stock was acquired at an average cost of $3.39 per share, for a total transaction of $33,900.00. Following the completion of the acquisition, the insider now directly owns 21,443 shares of the company’s stock, valued at approximately $72,691.77. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 21.20% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Algert Global LLC purchased a new stake in Zafgen in the second quarter worth about $123,000. Parametric Portfolio Associates LLC lifted its holdings in Zafgen by 55.8% in the first quarter. Parametric Portfolio Associates LLC now owns 28,832 shares of the biopharmaceutical company’s stock worth $134,000 after buying an additional 10,327 shares during the period. Nine Chapters Capital Management LLC purchased a new stake in Zafgen in the first quarter worth about $170,000. Wells Fargo & Company MN lifted its holdings in Zafgen by 1,290.3% in the first quarter. Wells Fargo & Company MN now owns 43,531 shares of the biopharmaceutical company’s stock worth $203,000 after buying an additional 40,400 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of Zafgen during the second quarter valued at approximately $259,000. Institutional investors and hedge funds own 48.52% 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.

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