Zafgen Inc. (ZFGN) Trading Down 2.9%
Shares of Zafgen Inc. (NASDAQ:ZFGN) were down 2.9% on Thursday . The company traded as low as $2.97 and last traded at $2.98, with a volume of 188,738 shares. The stock had previously closed at $3.07.
A number of analysts have recently weighed in on ZFGN shares. Zacks Investment Research upgraded 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. FBR & Co reiterated a “buy” rating on shares of Zafgen in a research report on Monday, June 13th. Cowen and Company cut Zafgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 20th. Leerink Swann reiterated a “market perform” rating and set a $6.00 price target on shares of Zafgen in a research report on Wednesday, July 20th. Finally, 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. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Zafgen currently has an average rating of “Buy” and a consensus target price of $14.22.
The stock’s 50-day moving average is $4.02 and its 200 day moving average is $5.87. The stock’s market cap is $82.53 million.
In other Zafgen news, Director Frances K. Heller bought 10,000 shares of Zafgen stock in a transaction dated Friday, July 22nd. The shares were acquired at an average cost of $2.99 per share, with a total value of $29,900.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $29,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Patricia L. Allen bought 16,000 shares of Zafgen stock in a transaction dated Tuesday, July 26th. The stock was 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.
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