Zafgen (ZFGN) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Zafgen (NASDAQ:ZFGN) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

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 research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $6.63.

Zafgen (ZFGN) traded down $0.04 during mid-day trading on Friday, hitting $5.56. 111,654 shares of the company were exchanged, compared to its average volume of 155,300. Zafgen has a 12-month low of $3.21 and a 12-month high of $5.75.

Zafgen (NASDAQ:ZFGN) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.12. analysts predict that Zafgen will post -2.02 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. OxFORD Asset Management LLP increased its stake in Zafgen by 65.0% in the third quarter. OxFORD Asset Management LLP now owns 171,112 shares of the biopharmaceutical company’s stock valued at $585,000 after purchasing an additional 67,394 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Zafgen in the second quarter valued at approximately $259,000. 683 Capital Management LLC increased its stake in Zafgen by 8.5% in the third quarter. 683 Capital Management LLC now owns 1,300,000 shares of the biopharmaceutical company’s stock valued at $4,576,000 after purchasing an additional 101,600 shares during the last quarter. Vanguard Group Inc. increased its stake in Zafgen by 15.7% in the second quarter. Vanguard Group Inc. now owns 883,838 shares of the biopharmaceutical company’s stock valued at $3,102,000 after purchasing an additional 119,902 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Zafgen by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 584,159 shares of the biopharmaceutical company’s stock valued at $2,050,000 after purchasing an additional 140,848 shares during the last quarter. Institutional investors own 48.60% of the company’s stock.

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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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