Zafgen (NASDAQ:ZFGN) Receives “Outperform” Rating from Wedbush

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Wedbush reaffirmed their outperform rating on shares of Zafgen (NASDAQ:ZFGN) in a research note released on Monday morning, RTT News reports. The firm currently has a $6.00 price target on the biopharmaceutical company’s stock. Wedbush also issued estimates for Zafgen’s Q3 2019 earnings at ($0.29) EPS, Q4 2019 earnings at ($0.26) EPS, FY2019 earnings at ($1.22) EPS, Q1 2020 earnings at ($0.24) EPS, Q2 2020 earnings at ($0.24) EPS, Q3 2020 earnings at ($0.25) EPS, Q4 2020 earnings at ($0.24) EPS, FY2020 earnings at ($0.96) EPS, FY2021 earnings at ($0.98) EPS, FY2022 earnings at ($1.05) EPS and FY2023 earnings at ($1.14) EPS.

A number of other equities analysts also recently commented on the company. Roth Capital started coverage on Zafgen in a research report on Friday, April 26th. They set a buy rating and a $8.00 price objective for the company. Cowen reissued a hold rating on shares of Zafgen in a research report on Thursday, May 30th. ValuEngine raised Zafgen from a sell rating to a hold rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded Zafgen from a buy rating to a hold rating in a research report on Saturday, July 20th. Finally, Piper Jaffray Companies lowered their price objective on Zafgen from $6.00 to $5.00 and set a hold rating for the company in a research report on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $7.00.

Shares of NASDAQ:ZFGN opened at $0.85 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 7.83 and a quick ratio of 7.83. The firm has a market capitalization of $31.71 million, a PE ratio of -0.45 and a beta of -0.46. The firm’s 50-day moving average is $1.08 and its two-hundred day moving average is $2.51. Zafgen has a 1 year low of $0.84 and a 1 year high of $12.35.

Zafgen (NASDAQ:ZFGN) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.06. Analysts expect that Zafgen will post -1.21 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in Zafgen by 22.4% in the fourth quarter. BlackRock Inc. now owns 2,596,716 shares of the biopharmaceutical company’s stock valued at $12,853,000 after buying an additional 474,896 shares during the last quarter. AWM Investment Company Inc. lifted its stake in Zafgen by 32.4% in the second quarter. AWM Investment Company Inc. now owns 1,857,171 shares of the biopharmaceutical company’s stock valued at $2,210,000 after buying an additional 454,874 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Zafgen by 71.2% during the second quarter. Renaissance Technologies LLC now owns 1,678,300 shares of the biopharmaceutical company’s stock worth $1,997,000 after purchasing an additional 697,724 shares during the last quarter. Citadel Advisors LLC raised its stake in shares of Zafgen by 2.2% during the second quarter. Citadel Advisors LLC now owns 971,818 shares of the biopharmaceutical company’s stock worth $1,156,000 after purchasing an additional 20,953 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Zafgen by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 904,194 shares of the biopharmaceutical company’s stock worth $4,476,000 after purchasing an additional 21,423 shares during the last quarter. Institutional investors own 82.89% 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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