Zacks Investment Research upgraded shares of Zafgen (NASDAQ:ZFGN) from a sell rating to a hold rating in a research note issued to investors on Saturday.
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. “
A number of other research firms have also recently issued reports on ZFGN. Cowen reaffirmed a hold rating on shares of Zafgen in a report on Thursday, January 17th. Leerink Swann raised shares of Zafgen from a market perform rating to an outperform rating and set a $4.52 price target for the company in a report on Thursday, February 7th. ValuEngine raised shares of Zafgen from a buy rating to a strong-buy rating in a report on Saturday, November 10th. BidaskClub cut shares of Zafgen from a buy rating to a hold rating in a report on Thursday, November 22nd. Finally, Svb Leerink raised shares of Zafgen from a market perform rating to an outperform rating in a report on Thursday, February 7th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Zafgen has a consensus rating of Buy and an average price target of $12.45.
Hedge funds and other institutional investors have recently bought and sold shares of the business. First Manhattan Co. purchased a new position in shares of Zafgen in the fourth quarter worth $27,000. Meeder Asset Management Inc. raised its holdings in shares of Zafgen by 547.1% during the fourth quarter. Meeder Asset Management Inc. now owns 9,118 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 7,709 shares during the last quarter. Voya Investment Management LLC purchased a new position in shares of Zafgen during the second quarter worth $104,000. Prudential Financial Inc. purchased a new position in shares of Zafgen during the fourth quarter worth $65,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Zafgen by 428.7% during the third quarter. Wells Fargo & Company MN now owns 14,783 shares of the biopharmaceutical company’s stock worth $173,000 after purchasing an additional 11,987 shares during the last quarter. 81.96% of the stock is owned by institutional investors and hedge funds.
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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