Wedbush Weighs in on Zafgen Inc’s Q1 2019 Earnings (ZFGN)
Zafgen Inc (NASDAQ:ZFGN) – Stock analysts at Wedbush lowered their Q1 2019 EPS estimates for shares of Zafgen in a report issued on Tuesday, March 12th. Wedbush analyst L. Moussatos now forecasts that the biopharmaceutical company will earn ($0.36) per share for the quarter, down from their previous estimate of ($0.35). Wedbush also issued estimates for Zafgen’s Q2 2019 earnings at ($0.34) EPS, Q3 2019 earnings at ($0.32) EPS, Q4 2019 earnings at ($0.30) EPS, FY2019 earnings at ($1.31) EPS, FY2020 earnings at ($1.15) EPS, FY2021 earnings at ($1.31) EPS and FY2022 earnings at ($1.43) EPS.
Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Zafgen from a “buy” rating to a “hold” rating in a research report on Friday, December 7th. ValuEngine lowered shares of Zafgen from a “buy” rating to a “hold” rating in a research report on Monday, November 26th. Cowen reaffirmed a “hold” rating on shares of Zafgen in a research report on Thursday, January 17th. Piper Jaffray Companies dropped their price target on shares of Zafgen from $18.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday. Finally, BidaskClub lowered shares of Zafgen from a “buy” rating to a “hold” rating in a research report on Thursday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $9.45.
Zafgen (NASDAQ:ZFGN) last announced its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.39) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.04.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its holdings in Zafgen by 3.0% during the 4th quarter. Bank of New York Mellon Corp now owns 161,552 shares of the biopharmaceutical company’s stock worth $800,000 after purchasing an additional 4,699 shares during the last quarter. American International Group Inc. grew its position in Zafgen by 36.0% in the 3rd quarter. American International Group Inc. now owns 20,222 shares of the biopharmaceutical company’s stock valued at $236,000 after purchasing an additional 5,351 shares during the period. First Manhattan Co. acquired a new stake in Zafgen in the 4th quarter valued at $27,000. Meeder Asset Management Inc. grew its position in Zafgen by 547.1% in the 4th quarter. Meeder Asset Management Inc. now owns 9,118 shares of the biopharmaceutical company’s stock valued at $46,000 after purchasing an additional 7,709 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Zafgen by 428.7% during the 3rd quarter. Wells Fargo & Company MN now owns 14,783 shares of the biopharmaceutical company’s stock worth $173,000 after acquiring an additional 11,987 shares during the last quarter. Institutional investors and hedge funds own 86.09% of the company’s stock.
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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