Wedbush Reiterates Hold Rating for Zafgen (NASDAQ:ZFGN)

Wedbush reaffirmed their hold rating on shares of Zafgen (NASDAQ:ZFGN) in a research note published on Thursday morning, TipRanks reports. They currently have a $0.78 price objective on the biopharmaceutical company’s stock.

Several other research analysts have also recently weighed in on ZFGN. Zacks Investment Research reissued a hold rating on shares of Zafgen in a research report on Saturday, October 19th. Roth Capital cut Zafgen from a buy rating to a neutral rating in a research report on Friday, September 6th. ValuEngine raised Zafgen from a sell rating to a hold rating in a research report on Thursday, August 1st. Finally, JMP Securities cut Zafgen from an outperform rating to a market perform rating in a research report on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $6.05.

ZFGN stock traded down $0.03 during midday trading on Thursday, hitting $0.73. The company’s stock had a trading volume of 639 shares, compared to its average volume of 249,171. The stock’s 50-day moving average price is $0.73 and its 200 day moving average price is $1.23. The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 0.28. Zafgen has a 1 year low of $0.63 and a 1 year high of $9.97. The stock has a market cap of $28.03 million, a price-to-earnings ratio of -0.40 and a beta of -0.57.

Zafgen (NASDAQ:ZFGN) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.03. As a group, equities analysts forecast that Zafgen will post -1.15 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of ZFGN. Gabelli Funds LLC bought a new stake in shares of Zafgen during the 2nd quarter valued at $26,000. Northeast Financial Consultants Inc bought a new stake in shares of Zafgen during the 2nd quarter valued at $28,000. Jefferies Group LLC bought a new position in Zafgen in the 2nd quarter worth about $32,000. SG Americas Securities LLC increased its stake in Zafgen by 73.4% in the 2nd quarter. SG Americas Securities LLC now owns 27,032 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 11,447 shares during the last quarter. Finally, A.R.T. Advisors LLC bought a new position in Zafgen in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 69.73% 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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Analyst Recommendations for Zafgen (NASDAQ:ZFGN)

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