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ZFGN

Zafgen

$9.40

-0.26 (-2.69%)

16:31
08/07/18
08/07
16:31
08/07/18
16:31

Zafgen reports Q2 EPS (57c), consensus (59c)

"2018 is an important year of execution on our plan for our novel second-generation MetAP2 pipeline," said Jeffrey Hatfield, Chief Executive Officer. "We've continued to make significant progress this year, highlighted by positive data from the initial part of our Phase 2 clinical trial of ZGN-1061 in patients with type 2 diabetes, launch of the natural history study of PWS, advancement towards clinical testing for ZGN-1258, strengthening of our balance sheet, and key personnel additions. We expect this progress to continue throughout the remainder of 2018 and beyond, with near-term milestones for all of our key pipeline programs." As of June 30, 2018, the Company had cash, cash equivalents and marketable securities totaling $75.8 million. In July 2018, the Company completed an underwritten public offering of its common stock, which included the full exercise of the underwriters' option to purchase additional shares, resulting in net proceeds of approximately $64.6 million. After giving effect to the estimated net proceeds from the Company's public offering of common stock, the unaudited pro forma cash, cash equivalents and marketable securities balance was $140.4 million as of June 30, 2018. The Company expects that its cash, cash equivalents and marketable securities balance will be greater than $100 million as of December 31, 2018.

  • 07

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  • 14

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ZFGN Zafgen
$9.40

-0.26 (-2.69%)

07/03/18
07/03/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Veru Inc. (VERU) initiated with a Buy at Maxim. 2. ViewRay (VRAY) initiated with a Buy at Jefferies. 3. MeiraGTx (MGTX) initiated with an Overweight at Barclays. 4. Zafgen (ZFGN) initiated with an Overweight at Piper Jaffray. 5. Eloxx Pharmaceuticals (ELOX) initiated with a Buy at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/02/18
WEDB
08/02/18
INITIATION
Target $14
WEDB
Outperform
Zafgen initiated with an Outperform at Wedbush
Wedbush initiated Zafgen with an Outperform and $14 price target.
08/03/18
WEDB
08/03/18
INITIATION
Target $14
WEDB
Outperform
Zafgen initiated with an Outperform at Wedbush
Wedbush analyst Liana Moussatos initiated Zafgen with an Outperform rating and 12-month price target of $14, telling investors in a research note that she views Zafgen an opportunity to invest in a proprietary second generation methionine aminopeptidase 2 or MetAP2 inhibitor platform for treatment of complex metabolic disorders including difficult-to-control type-2 diabetes, Prader-Willi Syndrome and liver diseases like non-alcoholic steatohepatitis. MetAP2 inhibitors reduce lipid synthesis and fat storage. She also views execution risk to be lower than typical due to management's experience in the pharmaceutical industry, and projects potential achievement of "blockbuster" revenues in 2028 for ZGN-1061 in T2D after launch in 2024 and potentially achieving around $1B in 2017 from ZGN-1258 sales for PWS after potential launch in 2022.
08/03/18
08/03/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tesla (TSLA) initiated with a Hold at Canaccord. 2. Universal Forest (UFPI) initiated with a Buy at Seaport Global. 3. Zafgen (ZFGN) initiated with an Outperform at Wedbush. 4. Entera Bio (ENTX) initiated with a Buy at Maxim. 5. Huya initiated with a Neutral at Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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