Zafgen (ZFGN) Sees Large Volume Increase on Better-Than-Expected Earnings

Zafgen Inc (NASDAQ:ZFGN) saw unusually-high trading volume on Thursday following a better than expected earnings announcement. Approximately 722,950 shares changed hands during mid-day trading, an increase of 169% from the previous session’s volume of 268,353 shares.The stock last traded at $11.49 and had previously closed at $10.15.

The biopharmaceutical company reported ($0.41) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.04.

Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Zafgen from a “sell” rating to a “hold” rating in a research note on Monday, July 16th. ValuEngine upgraded shares of Zafgen from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Wedbush assumed coverage on shares of Zafgen in a research note on Thursday, August 2nd. They issued an “outperform” rating and a $14.00 price target for the company. Finally, BidaskClub upgraded shares of Zafgen from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 27th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $15.25.

Several institutional investors have recently modified their holdings of the stock. American International Group Inc. increased its stake in shares of Zafgen by 36.0% in the 3rd quarter. American International Group Inc. now owns 20,222 shares of the biopharmaceutical company’s stock worth $236,000 after acquiring an additional 5,351 shares in the last quarter. BlackRock Inc. increased its stake in shares of Zafgen by 47.6% in the 3rd quarter. BlackRock Inc. now owns 2,121,820 shares of the biopharmaceutical company’s stock worth $24,805,000 after acquiring an additional 683,888 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Zafgen by 22.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 156,853 shares of the biopharmaceutical company’s stock worth $1,834,000 after acquiring an additional 28,533 shares in the last quarter. EAM Investors LLC increased its stake in shares of Zafgen by 187.7% in the 3rd quarter. EAM Investors LLC now owns 65,136 shares of the biopharmaceutical company’s stock worth $761,000 after acquiring an additional 42,495 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of Zafgen by 200.6% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 496,000 shares of the biopharmaceutical company’s stock worth $5,798,000 after acquiring an additional 331,000 shares in the last quarter. Institutional investors own 72.60% of the company’s stock.

The company has a market cap of $370.26 million, a price-to-earnings ratio of -5.99 and a beta of -0.23. The company has a debt-to-equity ratio of 0.36, a quick ratio of 8.42 and a current ratio of 8.42.

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About Zafgen (NASDAQ:ZFGN)

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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