Cowen & Co. Releases a Hold Rating on Zafgen

By Ryan Adsit

Cowen & Co. analyst Phil Nadeau reiterated a Hold rating on Zafgen (NASDAQ: ZFGN) today. The company’s shares opened today at $4.15.

Nadeau said:

“Zafgen reported a Q4:16 net loss of $10.4MM, ended 2016 with $129.2MM in cash,.”

According to TipRanks.com, Nadeau is a 4-star analyst with an average return of 8.0% and a 54.1% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as Achillion Pharmaceuticals, Catabasis Pharmaceuticals, and Voyager Therapeutics Inc.

Zafgen has an analyst consensus of Moderate Buy.

Based on Zafgen’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $0 and GAAP net loss of $14.68 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $23.17 million.

Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ZFGN in relation to earlier this year. Most recently, in December 2016, Frances Heller, a Director at ZFGN bought 10,000 shares for a total of $32,200.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Zafgen, Inc. is a biopharmaceutical company, which engages in the development of anti-obesity therapeutics that restores normal fat metabolism and regulatory pathways. Its product: Beloranib, which is under phase 2 clinical development as a treatment for obesity and hyperphagia in Prader-Willi Syndrome, or PW craniopharyngioma-associated obesity. The company was founded on November 22, 2005 and is headquartered in Boston, MA.