Analysts Set Zafgen Inc (NASDAQ:ZFGN) Target Price at $7.00
Zafgen Inc (NASDAQ:ZFGN) has been given an average rating of “Hold” by the ten research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $7.00.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research reissued a “hold” rating and set a $1.50 price objective on shares of Zafgen in a research note on Saturday. Wedbush reissued a “buy” rating and set a $6.00 price objective on shares of Zafgen in a research note on Thursday, May 30th. Cowen reissued a “hold” rating on shares of Zafgen in a research note on Thursday, May 30th. Piper Jaffray Companies reduced their price objective on Zafgen from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Thursday, May 30th. Finally, ValuEngine lowered Zafgen from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st.
NASDAQ ZFGN traded down $0.04 on Tuesday, reaching $1.28. 225,148 shares of the stock traded hands, compared to its average volume of 283,980. The stock’s fifty day moving average price is $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. The company has a market capitalization of $47.78 million, a P/E ratio of -0.67 and a beta of -0.10. Zafgen has a 12 month low of $1.25 and a 12 month high of $12.35.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ZFGN. SG Americas Securities LLC purchased a new stake in shares of Zafgen in the 1st quarter worth about $43,000. Prudential Financial Inc. bought a new position in shares of Zafgen in the 4th quarter worth approximately $65,000. Alambic Investment Management L.P. bought a new stake in shares of Zafgen during the first quarter valued at approximately $95,000. Wedbush Securities Inc. purchased a new position in shares of Zafgen in the first quarter valued at $96,000. Finally, Bank of America Corp DE grew its holdings in shares of Zafgen by 155.5% in the fourth quarter. Bank of America Corp DE now owns 19,909 shares of the biopharmaceutical company’s stock valued at $98,000 after purchasing an additional 12,116 shares in the last quarter. Institutional investors 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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