Zafgen Inc. (ZFGN) Shares Down 2.9%
Zafgen Inc. (NASDAQ:ZFGN) traded down 2.9% on Thursday . The stock 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.
Several equities research analysts recently weighed in on the company. Canaccord Genuity set a $4.00 price target on Zafgen and gave the stock a “hold” rating in a research note on Thursday, July 21st. FBR & Co cut Zafgen from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $20.00 to $5.00 in a research note on Wednesday, July 20th. Cowen and Company reaffirmed a “buy” rating and set a $60.00 price objective on shares of Zafgen in a research report on Thursday. Zacks Investment Research raised Zafgen from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research report on Tuesday, July 26th. Finally, Leerink Swann reaffirmed a “market perform” rating and set a $6.00 price objective on shares of Zafgen in a research report on Wednesday, July 20th. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Zafgen presently has an average rating of “Buy” and an average target price of $14.22.
The stock’s market cap is $83.35 million. The firm’s 50-day moving average price is $3.92 and its 200-day moving average price is $5.85.
In related news, Director Frances K. Heller purchased 10,000 shares of Zafgen stock in a transaction dated Friday, July 22nd. The stock was purchased at an average cost of $2.99 per share, with a total value of $29,900.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $29,900. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Patricia L. Allen purchased 16,000 shares of Zafgen stock in a transaction dated Tuesday, July 26th. The stock was bought at an average cost of $3.12 per share, with a total value 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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