HC Wainwright Reaffirms “Buy” Rating for FibroGen (NASDAQ:FGEN)

FibroGen (NASDAQ:FGEN)‘s stock had its “buy” rating reiterated by HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $10.00 price objective on the biopharmaceutical company’s stock.

Separately, StockNews.com began coverage on shares of FibroGen in a report on Friday, March 14th. They issued a “hold” rating for the company.

FibroGen Price Performance

FibroGen stock opened at $0.36 on Tuesday. The company has a market capitalization of $36.05 million, a price-to-earnings ratio of -0.29 and a beta of 0.82. FibroGen has a one year low of $0.18 and a one year high of $2.80. The company’s fifty day moving average price is $0.50 and its two-hundred day moving average price is $0.43.

FibroGen (NASDAQ:FGEN) last posted its earnings results on Monday, March 17th. The biopharmaceutical company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $3.14 million for the quarter, compared to analyst estimates of $24.91 million. As a group, sell-side analysts anticipate that FibroGen will post -0.8 earnings per share for the current year.

Institutional Trading of FibroGen

Hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Securities LLC bought a new position in FibroGen in the fourth quarter valued at approximately $27,000. Velan Capital Investment Management LP bought a new position in FibroGen in the fourth quarter valued at approximately $42,000. XTX Topco Ltd boosted its stake in FibroGen by 423.8% in the fourth quarter. XTX Topco Ltd now owns 96,025 shares of the biopharmaceutical company’s stock valued at $51,000 after acquiring an additional 77,693 shares during the last quarter. Franklin Street Advisors Inc. NC boosted its stake in FibroGen by 100.0% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 200,000 shares of the biopharmaceutical company’s stock valued at $106,000 after acquiring an additional 100,000 shares during the last quarter. Finally, FMR LLC boosted its stake in FibroGen by 21.8% in the third quarter. FMR LLC now owns 383,258 shares of the biopharmaceutical company’s stock valued at $153,000 after acquiring an additional 68,569 shares during the last quarter. Institutional investors and hedge funds own 72.71% of the company’s stock.

FibroGen Company Profile

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. Its lead product candidates are Pamrevlumab, a human monoclonal antibody targeting connective tissue growth factor that is in Phase III clinical development for the treatment of locally advanced pancreatic cancer; and Roxadustat, an oral small molecule inhibitor of hypoxia-inducible factor prolyl hydroxylase activity, which has completed Phase III clinical development for the treatment of anemia in chronic kidney disease in China, Europe, Japan, and other countries, as well as in Phase III clinical development for anemia related with myelodysplastic syndromes.