Zafgen (ZFGN) Downgraded to “Hold” at Zacks Investment Research
Zafgen (NASDAQ:ZFGN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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 raised shares of Zafgen from a “strong sell” rating to a “sell” rating in a research report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Zafgen presently has a consensus rating of “Hold” and a consensus target price of $6.63.
Zafgen (NASDAQ:ZFGN) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.12. analysts anticipate that Zafgen will post -2.02 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in ZFGN. Mangrove Partners bought a new position in Zafgen during the third quarter worth about $1,971,000. Goldman Sachs Group Inc. increased its position in Zafgen by 1,701.5% during the second 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 during the period. Dimensional Fund Advisors LP increased its position in Zafgen by 31.8% during the second 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 during the period. Vanguard Group Inc. increased its position in Zafgen by 15.7% during the second 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 during the period. Finally, OxFORD Asset Management LLP bought a new position in Zafgen during the second quarter worth about $364,000. 48.60% of the stock is currently owned by institutional investors and hedge funds.
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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