Wedbush Comments on Zafgen Inc’s FY2023 Earnings (ZFGN)

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Zafgen Inc (NASDAQ:ZFGN) – Research analysts at Wedbush issued their FY2023 earnings per share (EPS) estimates for shares of Zafgen in a note issued to investors on Tuesday, March 12th. Wedbush analyst L. Moussatos forecasts that the biopharmaceutical company will post earnings per share of ($1.55) for the year.

Several other equities analysts also recently weighed in on the company. Cowen reaffirmed a “hold” rating on shares of Zafgen in a research report on Thursday, January 17th. JMP Securities lifted their target price on Zafgen from $8.00 to $17.00 and gave the company a “hold” rating in a research report on Tuesday. They noted that the move was a valuation call. Leerink Swann raised Zafgen from a “market perform” rating to an “outperform” rating and set a $4.52 target price for the company in a research report on Thursday, February 7th. Piper Jaffray Companies dropped their target price on Zafgen from $18.00 to $6.00 and set a “hold” rating for the company in a research report on Monday. Finally, Svb Leerink raised Zafgen from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Zafgen currently has a consensus rating of “Hold” and an average target price of $9.45.

NASDAQ ZFGN opened at $3.03 on Thursday. The stock has a market capitalization of $106.56 million, a price-to-earnings ratio of -1.59 and a beta of -0.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 11.78 and a quick ratio of 11.78. Zafgen has a 1-year low of $2.78 and a 1-year high of $12.35.

Zafgen (NASDAQ:ZFGN) last released its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.04.

Several institutional investors and hedge funds have recently made changes to their positions in ZFGN. Northern Trust Corp boosted its stake in shares of Zafgen by 331.5% in the 2nd quarter. Northern Trust Corp now owns 264,298 shares of the biopharmaceutical company’s stock valued at $2,703,000 after buying an additional 203,041 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Zafgen by 428.7% in the 3rd quarter. Wells Fargo & Company MN now owns 14,783 shares of the biopharmaceutical company’s stock valued at $173,000 after buying an additional 11,987 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in shares of Zafgen by 200.6% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 496,000 shares of the biopharmaceutical company’s stock valued at $5,798,000 after buying an additional 331,000 shares during the period. EAM Investors LLC boosted its stake in shares of Zafgen by 187.7% in the 3rd quarter. EAM Investors LLC now owns 65,136 shares of the biopharmaceutical company’s stock valued at $761,000 after buying an additional 42,495 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Zafgen by 22.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 156,853 shares of the biopharmaceutical company’s stock valued at $1,834,000 after buying an additional 28,533 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

About Zafgen

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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Earnings History and Estimates for Zafgen (NASDAQ:ZFGN)

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