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.

ILLEGAL ACTIVITY NOTICE: “Zafgen, Inc. (ZFGN) Stock Rating Upgraded by Zacks Investment Research” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/09/13/zafgen-inc-zfgn-stock-rating-upgraded-by-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Zafgen (ZFGN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Zafgen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zafgen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.