Prudential Financial Inc. bought a new stake in shares of Zafgen Inc (NASDAQ:ZFGN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,183 shares of the biopharmaceutical company’s stock, valued at approximately $65,000.
Several other large investors also recently added to or reduced their stakes in ZFGN. First Manhattan Co. acquired a new stake in Zafgen during the fourth quarter worth approximately $27,000. Meeder Asset Management Inc. boosted its holdings in Zafgen by 547.1% in the fourth quarter. Meeder Asset Management Inc. now owns 9,118 shares of the biopharmaceutical company’s stock worth $46,000 after acquiring an additional 7,709 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Zafgen by 428.7% in the third quarter. Wells Fargo & Company MN now owns 14,783 shares of the biopharmaceutical company’s stock worth $173,000 after acquiring an additional 11,987 shares in the last quarter. American International Group Inc. boosted its holdings in Zafgen by 36.0% in the third quarter. American International Group Inc. now owns 20,222 shares of the biopharmaceutical company’s stock worth $236,000 after acquiring an additional 5,351 shares in the last quarter. Finally, MetLife Investment Advisors LLC bought a new position in Zafgen in the third quarter worth approximately $281,000. Hedge funds and other institutional investors own 86.74% of the company’s stock.
Several brokerages have issued reports on ZFGN. Zacks Investment Research lowered Zafgen from a “buy” rating to a “hold” rating in a report on Sunday, January 6th. Svb Leerink upgraded Zafgen from a “market perform” rating to an “outperform” rating in a report on Thursday, February 7th. Cowen restated a “hold” rating on shares of Zafgen in a report on Thursday, January 17th. Piper Jaffray Companies dropped their target price on Zafgen from $18.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, March 11th. Finally, Leerink Swann raised Zafgen from a “market perform” rating to an “outperform” rating and set a $4.52 price target for the company in a research report on Thursday, February 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Zafgen has a consensus rating of “Hold” and a consensus target price of $9.45.
Zafgen (NASDAQ:ZFGN) last released its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.04. On average, equities research analysts predict that Zafgen Inc will post -1.6 EPS for the current fiscal year.
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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