Zafgen Inc (ZFGN) Reports Positive Phase III Results For Obesity Drug Beloranib

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Shares of Zafgen Inc (NASDAQ:ZFGN) are up $2.78 or 49.04% in pre-market trading this morning after the company reported positive results for their phase III study of beloranib, an obesity drug. The study, which centered around administering beloranib to patients suffering from a rare genetic disorder called, has produce positive results.

”This clear efficacy outcome is a crucial first step in moving discussions forward with the Food and Drug Administration regarding continued development of beloranib,” Chief Executive Thomas Hughes said. “While we take the previously reported adverse events very seriously, we now have the robust data to provide greater perspective on the benefit/risk relationship of beloranib in this high-risk patient population.”

Zafgen Inc (NASDAQ:ZFGN) shares were down more than 84% over the last 12 months, so this news is certainly something shareholders have been craving. The stock closed at $5.62 during the last trading session. It is down 84.21% since June 15, 2015 and is downtrending. It has underperformed the S&P500 by 75.35%.

From a total of 8 analysts covering Zafgen Inc (NASDAQ:ZFGN) stock, 3 rate it a “Buy”, 0 a “Sell”, and 5 a “Hold”. This means that 38% of the ratings are positive. The highest target price is $60 while the lowest target price is $7. The mean of all analyst targets is $29.50 which is 424.91% above today’s ($5.62) stock price. Zafgen Inc was the topic of 11 analyst reports since August 25, 2015 according to the firm StockzIntelligence Inc. Leerink Swann downgraded shares on December 3 to a “Mkt Perform” rating. Cowen & Co maintained shares with a”Buy” rating and a $60 target share price in their report from an August 25. SunTrust downgraded ZFGN stock in a recent report from December 3 to a “Neutral” rating. Finally, Canaccord Genuity maintained the stock with a “Buy” rating in a report they issued on a November 13.

Zafgen, Inc. is a biopharmaceutical company. The company has a market cap of $153.06 million. The Firm is engaged in improving the health and well-being of patients affected by obesity and complex metabolic disorders. It currently has negative earnings. The Company’s lead product candidate, Beloranib is a twice-weekly subcutaneous injection being developed for the treatment of multiple indications, including severe obesity in two rare diseases, Prader-Willi syndrome (PWS) and hypothalamic injury-associated obesity (HIAO), including craniopharyngioma-associated obesity, and severe obesity.

#focuskw=’Zafgen Inc (NASDAQ:ZFGN)’##metadesc=’Shares of Zafgen Inc (NASDAQ:ZFGN) are up $2.78 or 49.04% in pre-market trading this morning after the company reported positive results for their phase III study of beloranib, an obesity drug. The study, which centered around administering beloranib to patients suffering from a rare genetic disorder called, has produce positive results. ”This clear efficacy outcome is a crucial first step in moving discussions forward with the Food and Drug Administration regarding continued development of beloranib,” Chief Executive Thomas Hughes said. “While we take the previously reported adverse events very seriously, we now have the robust data to provide greater perspective on the benefit/risk relationship of beloranib in this high-risk patient population.”Zafgen Inc (NASDAQ:ZFGN) shares were down more than 84% over the last 12 months, so this news is certainly something shareholders have been craving. ‘##metarobot=’index’##newskw=’Zafgen Inc positive news,Zafgen Inc – (NASDAQ:ZFGN),NASDAQ:ZFGN Analyst rating analysis,Stock Analysis,Outlook and potential,ZFGN Price change and trend,ZFGN stock update’##sitemap=’include’##skipsocial##stockticker=’NASDAQ:ZFGN’#

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