Zafgen (ZFGN) Sets New 52-Week Low at $2.33

Zafgen Inc (NASDAQ:ZFGN)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $2.33 and last traded at $2.38, with a volume of 16923 shares traded. The stock had previously closed at $2.45.

Several brokerages have recently issued reports on ZFGN. Zacks Investment Research cut shares of Zafgen from a “buy” rating to a “hold” rating in a research note on Sunday, January 6th. Svb Leerink raised shares of Zafgen from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 7th. Cowen reaffirmed a “hold” rating on shares of Zafgen in a research note on Thursday, January 17th. Piper Jaffray Companies lowered their price objective on shares of Zafgen from $18.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday, March 11th. Finally, Leerink Swann raised shares of Zafgen from a “market perform” rating to an “outperform” rating and set a $4.52 price objective on the stock in a research note on Thursday, February 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $9.45.

The company has a market capitalization of $91.42 million, a PE ratio of -1.25 and a beta of -0.42. The company has a debt-to-equity ratio of 0.16, a quick ratio of 9.12 and a current ratio of 9.12.

Zafgen (NASDAQ:ZFGN) last announced its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.04. On average, research analysts predict that Zafgen Inc will post -1.6 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. First Manhattan Co. purchased a new position in shares of Zafgen in the fourth quarter worth approximately $27,000. Meeder Asset Management Inc. increased its position in shares of 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. Prudential Financial Inc. purchased a new position in shares of Zafgen in the fourth quarter worth approximately $65,000. Wedbush Securities Inc. purchased a new position in shares of Zafgen in the first quarter worth approximately $96,000. Finally, Bank of America Corp DE increased its position in shares of Zafgen by 155.5% in the fourth 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. 86.74% of the stock is currently owned by institutional investors and hedge funds.

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About Zafgen (NASDAQ:ZFGN)

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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