Zafgen (ZFGN) Sees Strong Trading Volume on Earnings Beat

Zafgen Inc (NASDAQ:ZFGN) shares saw an uptick in trading volume on Thursday following a stronger than expected earnings report. 722,950 shares were traded during trading, an increase of 169% from the previous session’s volume of 268,353 shares.The stock last traded at $11.49 and had previously closed at $10.15.

The biopharmaceutical company reported ($0.41) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.04.

Several research firms have weighed in on ZFGN. Zacks Investment Research upgraded shares of Zafgen from a “sell” rating to a “hold” rating in a research note on Monday, July 16th. Wedbush began coverage on shares of Zafgen in a research note on Thursday, August 2nd. They issued an “outperform” rating and a $14.00 price objective on the stock. Finally, BidaskClub lowered shares of Zafgen from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 5th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $15.25.

A number of institutional investors have recently added to or reduced their stakes in ZFGN. BlackRock Inc. increased its stake in shares of Zafgen by 283.6% during the 2nd quarter. BlackRock Inc. now owns 1,437,932 shares of the biopharmaceutical company’s stock worth $14,711,000 after purchasing an additional 1,063,080 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Zafgen during the 2nd quarter worth $5,013,000. Candriam Luxembourg S.C.A. increased its stake in shares of Zafgen by 200.6% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 496,000 shares of the biopharmaceutical company’s stock worth $5,798,000 after purchasing an additional 331,000 shares during the last quarter. 683 Capital Management LLC increased its stake in shares of Zafgen by 23.1% during the 2nd quarter. 683 Capital Management LLC now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $16,368,000 after purchasing an additional 300,000 shares during the last quarter. Finally, Acuta Capital Partners LLC acquired a new position in shares of Zafgen during the 2nd quarter worth $2,558,000. Hedge funds and other institutional investors own 72.60% of the company’s stock.

The company has a market capitalization of $370.26 million, a P/E ratio of -6.05 and a beta of -0.23. The company has a current ratio of 8.42, a quick ratio of 8.42 and a debt-to-equity ratio of 0.36.

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Zafgen Company Profile (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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