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

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

Zafgen (NASDAQ:ZFGN) traded down 2.03% during midday trading on Friday, hitting $3.37. The stock had a trading volume of 158,390 shares. The company has a 50-day moving average price of $3.45 and a 200-day moving average price of $3.98. Zafgen has a 12-month low of $2.89 and a 12-month high of $5.46. The company’s market cap is $92.62 million.

Zafgen (NASDAQ:ZFGN) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.03. During the same period last year, the business posted ($0.55) earnings per share. Equities analysts anticipate that Zafgen will post ($2.23) EPS for the current year.

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In other news, insider Dennis D. Kim bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The stock was bought at an average price of $3.39 per share, for a total transaction of $33,900.00. Following the transaction, the insider now owns 21,443 shares in the company, valued at $72,691.77. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 21.20% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Algert Global LLC acquired a new position in Zafgen during the 2nd quarter valued at approximately $123,000. Parametric Portfolio Associates LLC boosted its position in Zafgen by 55.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 28,832 shares of the biopharmaceutical company’s stock valued at $134,000 after purchasing an additional 10,327 shares during the period. Wells Fargo & Company MN boosted its position in Zafgen by 1,290.3% during the 1st quarter. Wells Fargo & Company MN now owns 43,531 shares of the biopharmaceutical company’s stock valued at $203,000 after purchasing an additional 40,400 shares during the period. GSA Capital Partners LLP acquired a new position in Zafgen during the 2nd quarter valued at approximately $259,000. Finally, LMR Partners LLP acquired a new position in Zafgen during the 2nd quarter valued at approximately $299,000. Institutional investors and hedge funds own 48.52% of the company’s stock.

About Zafgen

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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