Zafgen (NASDAQ:ZFGN) Receives “Hold” Rating from Zacks Investment Research

Zacks Investment Research restated their hold rating on shares of Zafgen (NASDAQ:ZFGN) in a research note published on Saturday, Zacks.com reports.

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 research analysts have also weighed in on ZFGN. ValuEngine upgraded shares of Zafgen from a sell rating to a hold rating in a research note on Thursday, August 1st. JMP Securities downgraded shares of Zafgen from an outperform rating to a market perform rating in a report on Thursday, September 5th. Wedbush downgraded shares of Zafgen from an outperform rating to a neutral rating and reduced their target price for the stock from $6.00 to $0.78 in a report on Friday, September 6th. Finally, Roth Capital downgraded shares of Zafgen from a buy rating to a neutral rating in a report on Friday, September 6th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $6.05.

Zafgen stock opened at $0.77 on Friday. The firm has a market capitalization of $27.50 million, a PE ratio of -0.41 and a beta of -0.55. The company’s 50-day moving average is $0.73 and its 200-day moving average is $1.46. Zafgen has a fifty-two week low of $0.63 and a fifty-two week high of $11.70. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.98 and a quick ratio of 6.98.

Zafgen (NASDAQ:ZFGN) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.06. As a group, analysts expect that Zafgen will post -1.15 EPS for the current year.

Several hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its holdings in shares of Zafgen by 73.4% during the 2nd quarter. SG Americas Securities LLC now owns 27,032 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 11,447 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Zafgen by 16.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 104,925 shares of the biopharmaceutical company’s stock worth $124,000 after buying an additional 14,917 shares during the period. Citadel Advisors LLC boosted its holdings in shares of Zafgen by 2.2% during the 2nd quarter. Citadel Advisors LLC now owns 971,818 shares of the biopharmaceutical company’s stock worth $1,156,000 after buying an additional 20,953 shares during the period. Gabelli Funds LLC bought a new stake in shares of Zafgen during the 2nd quarter worth about $26,000. Finally, Northeast Financial Consultants Inc bought a new stake in shares of Zafgen during the 2nd quarter worth about $28,000. 80.70% of the stock is owned by institutional investors and hedge funds.

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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