Zafgen initiated with an Outperform at Wedbush. Wedbush analyst Liana Moussatos initiated 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.
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