Zafgen Inc. (NASDAQ:ZFGN) fell 3.1% during mid-day trading on Friday . The company traded as low as $3.09 and last traded at $3.10, with a volume of 142,855 shares trading hands. The stock had previously closed at $3.20.

A number of research firms recently issued reports on ZFGN. Canaccord Genuity set a $4.00 target price on Zafgen and gave the company a “hold” rating in a research note on Thursday, July 21st. FBR & Co lowered Zafgen from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $20.00 to $5.00 in a research note on Wednesday, July 20th. Cowen and Company lowered Zafgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 20th. Zacks Investment Research raised Zafgen from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a research note on Tuesday, July 26th. Finally, Leerink Swann reaffirmed a “market perform” rating and issued a $6.00 target price on shares of Zafgen in a research note on Wednesday, July 20th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Zafgen presently has a consensus rating of “Hold” and a consensus price target of $9.22.

The firm has a 50-day moving average price of $4.40 and a 200 day moving average price of $5.99. The firm’s market cap is $84.45 million.

In related news, CFO Patricia L. Allen acquired 16,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were acquired at an average price of $3.12 per share, for a total transaction of $49,920.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frances K. Heller acquired 10,000 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were bought at an average price of $2.99 per share, for a total transaction of $29,900.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $29,900. The disclosure for this purchase can be found here.

Zafgen, Inc is a biopharmaceutical company. The Company is focused on improving the health and well-being of patients affected by obesity and complex metabolic disorders. The Company’s lead product candidate, Beloranib, is a twice-weekly subcutaneous injection being developed for the treatment of multiple indications, including severe obesity in rare diseases, such as Prader-Willi syndrome (PWS) and hypothalamic injury-associated obesity (HIAO), including craniopharyngioma-associated obesity.

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