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

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Zacks Investment Research reiterated their hold rating on shares of Zafgen (NASDAQ:ZFGN) in a report released on Saturday morning, Zacks.com reports. They currently have a $1.50 target price 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. “

ZFGN has been the topic of several other reports. Roth Capital assumed coverage on shares of Zafgen in a report on Friday, April 26th. They issued a buy rating and a $8.00 price objective on the stock. Wedbush reiterated a buy rating and issued a $6.00 price objective on shares of Zafgen in a report on Thursday, May 30th. Cowen reiterated a hold rating on shares of Zafgen in a report on Thursday, May 30th. Piper Jaffray Companies decreased their price objective on shares of Zafgen from $18.00 to $6.00 and set a hold rating on the stock in a report on Monday, March 11th. Finally, ValuEngine downgraded shares of Zafgen from a hold rating to a sell rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $7.00.

NASDAQ:ZFGN opened at $1.32 on Friday. Zafgen has a one year low of $1.25 and a one year high of $12.35. The firm has a market capitalization of $49.27 million, a P/E ratio of -0.69 and a beta of -0.10. The company has a fifty day moving average of $2.03. The company has a debt-to-equity ratio of 0.17, a quick ratio of 7.83 and a current ratio of 7.83.

Zafgen (NASDAQ:ZFGN) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.35) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.05. On average, equities research analysts expect that Zafgen will post -1.4 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Candriam Luxembourg S.C.A. grew its stake in shares of Zafgen by 8.7% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 539,000 shares of the biopharmaceutical company’s stock valued at $2,668,000 after acquiring an additional 43,000 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Zafgen by 66.7% in the fourth quarter. Rhumbline Advisers now owns 39,391 shares of the biopharmaceutical company’s stock valued at $195,000 after acquiring an additional 15,758 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of Zafgen in the fourth quarter valued at about $65,000. Bank of New York Mellon Corp grew its stake in shares of Zafgen by 3.0% in the fourth 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 in the last quarter. Finally, Atlas Venture Advisors Inc. acquired a new position in shares of Zafgen in the fourth quarter valued at about $17,356,000. Institutional investors and hedge funds own 84.26% 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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