Zafgen Inc. (ZFGN) Trading 2% Higher
Zafgen Inc. (NASDAQ:ZFGN)’s share price traded up 2% on Tuesday . The stock traded as high as $3.07 and last traded at $3.06, with a volume of 163,460 shares trading hands. The stock had previously closed at $3.00.
Several equities analysts have recently weighed in on the company. Leerink Swann reaffirmed a “market perform” rating and issued a $6.00 price objective on shares of Zafgen 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 report on Wednesday, July 20th. Canaccord Genuity set a $4.00 price target on Zafgen and gave the stock a “hold” rating in a research report on Thursday, July 21st. FBR & Co lowered Zafgen from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $20.00 to $5.00 in a research report on Wednesday, July 20th. Finally, Zacks Investment Research raised Zafgen from a “hold” rating to a “buy” rating and set a $7.25 price target on the stock in a research report on Thursday, May 12th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Zafgen has a consensus rating of “Buy” and an average target price of $14.22.
The stock’s 50-day moving average price is $3.72 and its 200 day moving average price is $5.80. The firm’s market cap is $83.35 million.
In other Zafgen news, Director Frances K. Heller purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The shares were purchased at an average cost of $2.99 per share, with a total value of $29,900.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $29,900. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Patricia L. Allen purchased 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were acquired at an average cost of $3.12 per share, for a total transaction of $49,920.00. 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.