Zafgen (NASDAQ:ZFGN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, reports. The firm presently has a $1.50 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target points to a potential upside of 9.49% from the stock’s current price.

According to Zacks, “Zafgen, Inc. is a biopharmaceutical company. The Company develops therapeutics for patients suffering from obesity and obesity-related disorders. Its lead product candidate includes Beloranib, an injection that is in Phase II clinical trials for the treatment of various indications comprising obesity and hyperphagia in Prader-Willi Syndrome patients, craniopharyngioma-associated obesity, and severe obesity in the general population. Zafgen, Inc. is headquartered in Cambridge, Massachusetts. “

A number of other research firms have also commented on ZFGN. Piper Jaffray Companies lowered their price target on Zafgen from $18.00 to $6.00 and set a “hold” rating for the company in a research report on Monday, March 11th. JMP Securities upped their price target on Zafgen from $8.00 to $17.00 and gave the company a “hold” rating in a research report on Tuesday, March 12th. They noted that the move was a valuation call. Roth Capital assumed coverage on Zafgen in a research report on Friday, April 26th. They set a “buy” rating and a $8.00 price target for the company. Wedbush reaffirmed a “buy” rating and set a $6.00 price target on shares of Zafgen in a research report on Thursday, May 16th. Finally, ValuEngine lowered Zafgen from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $7.00.

ZFGN traded down $0.03 during midday trading on Friday, reaching $1.37. 397,337 shares of the company’s stock traded hands, compared to its average volume of 343,542. The firm has a market capitalization of $52.26 million, a price-to-earnings ratio of -0.72 and a beta of -0.11. The company has a debt-to-equity ratio of 0.17, a current ratio of 7.83 and a quick ratio of 7.83. Zafgen has a 52 week low of $1.25 and a 52 week high of $12.35.

Zafgen (NASDAQ:ZFGN) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. As a group, sell-side analysts expect that Zafgen will post -1.4 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in ZFGN. SG Americas Securities LLC bought a new position in shares of Zafgen in the 1st quarter worth approximately $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 position in shares of Zafgen in the 1st quarter worth approximately $95,000. Wedbush Securities Inc. bought a new position in shares of Zafgen in the 1st quarter worth approximately $96,000. Finally, Bank of America Corp DE raised its position in shares of Zafgen by 155.5% in the 4th quarter. Bank of America Corp DE now owns 19,909 shares of the biopharmaceutical company’s stock worth $98,000 after acquiring an additional 12,116 shares in the last quarter. 84.26% of the stock is owned by hedge funds and other institutional investors.

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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