Zafgen (ZFGN) Rating Increased to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Zafgen (NASDAQ:ZFGN) from a hold rating to a buy rating in a report issued on Tuesday. They currently have $5.75 price target on the biopharmaceutical company’s stock.

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. “

Several other equities analysts have also recently issued reports on ZFGN. ValuEngine cut shares of Zafgen from a buy rating to a hold rating in a research report on Monday, November 26th. BidaskClub cut shares of Zafgen from a buy rating to a hold rating in a report on Thursday, November 22nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $14.44.

Shares of NASDAQ ZFGN opened at $5.12 on Tuesday. Zafgen has a 1 year low of $3.57 and a 1 year high of $12.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.78 and a current ratio of 11.78.

Zafgen (NASDAQ:ZFGN) last announced its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.04. On average, research analysts forecast that Zafgen will post -1.96 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC purchased a new stake in Zafgen in the second quarter worth about $104,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Zafgen in the second quarter worth about $110,000. Trexquant Investment LP purchased a new stake in Zafgen in the second quarter worth about $117,000. Private Advisor Group LLC purchased a new stake in Zafgen in the second quarter worth about $153,000. Finally, Wells Fargo & Company MN grew its holdings in Zafgen by 428.7% in the third quarter. Wells Fargo & Company MN now owns 14,783 shares of the biopharmaceutical company’s stock worth $173,000 after purchasing an additional 11,987 shares during the period. Institutional investors and hedge funds own 81.55% of the company’s stock.

Zafgen Company Profile

Zafgen, Inc, a clinical-stage biopharmaceutical company, develops therapies for patients suffering from metabolic diseases comprising type 2 diabetes, Prader-Willi syndrome (PWS), and other metabolically related disorders. The company's lead product candidate is ZGN-1061, a fumagillin-class methionine aminopeptidase 2 (MetAP2) inhibitor administered by subcutaneous injection, which is in Phase 2 clinical trial and profiled for its utility in the treatment of type 2 diabetes and other related metabolic disorders.

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