Zafgen, Inc. (ZFGN) saw a big move last session, as the company’s shares fell by 8% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for ZFGN as the stock is now up around 10% in the past one-month time frame.
On Mar 19, the company reported its fourth quarter results where the company incurred significant rise in the operating expenses.
Although this slump was obviously disappointing, the company has seen 1 positive revision and its current year earnings consensus has moved higher over the past few weeks. This suggests that the recent slump might be a temporary blip on the radar for ZFGN . So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.
ZFGN currently has a Zacks Rank #3 (Hold).
A better-ranked stock in the med – drugs sector is Lannett Company, Inc. (LCI), which currently carries a Zacks Rank #1 (Strong Buy).
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