Shares of Zafgen Inc (NASDAQ:ZFGN) traded up 8.5% during trading on Wednesday . The stock traded as high as $0.92 and last traded at $0.91, 244,359 shares were traded during trading. A decline of 20% from the average session volume of 305,159 shares. The stock had previously closed at $0.84.
A number of research firms have issued reports on ZFGN. Wedbush reissued an “outperform” rating and issued a $6.00 price objective on shares of Zafgen in a report on Monday, August 12th. ValuEngine raised shares of Zafgen from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Roth Capital began coverage on shares of Zafgen in a report on Friday, April 26th. They issued a “buy” rating and a $8.00 price objective for the company. Cowen reissued a “hold” rating on shares of Zafgen in a report on Thursday, May 30th. Finally, Piper Jaffray Companies cut their price objective on shares of Zafgen from $6.00 to $5.00 and set a “hold” rating for the company in a report on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $7.00.
The firm’s 50-day moving average price is $1.03 and its 200 day moving average price is $2.44. The company has a market capitalization of $32.98 million, a price-to-earnings ratio of -0.48 and a beta of -0.46. The company has a current ratio of 6.98, a quick ratio of 6.98 and a debt-to-equity ratio of 0.25.
Zafgen (NASDAQ:ZFGN) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.06. As a group, equities research analysts anticipate that Zafgen Inc will post -1.23 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in Zafgen during the 1st quarter worth approximately $389,000. Bank of New York Mellon Corp increased its position in Zafgen by 3.0% in the 4th quarter. Bank of New York Mellon Corp now owns 161,552 shares of the biopharmaceutical company’s stock valued at $800,000 after acquiring an additional 4,699 shares during the period. Hikari Power Ltd increased its position in Zafgen by 16.2% in the 1st quarter. Hikari Power Ltd now owns 150,521 shares of the biopharmaceutical company’s stock valued at $412,000 after acquiring an additional 21,000 shares during the period. Spark Investment Management LLC increased its position in Zafgen by 8.6% in the 1st quarter. Spark Investment Management LLC now owns 122,400 shares of the biopharmaceutical company’s stock valued at $335,000 after acquiring an additional 9,700 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Zafgen in the 1st quarter valued at approximately $604,000. Institutional investors own 74.22% of the company’s stock.
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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