FibroGen (NASDAQ:FGEN) Coverage Initiated at StockNews.com

Analysts at StockNews.com began coverage on shares of FibroGen (NASDAQ:FGEN) in a research report issued on Saturday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of FibroGen in a research note on Tuesday, March 18th.

FibroGen Trading Down 6.4 %

NASDAQ:FGEN opened at $0.32 on Friday. The company has a 50-day moving average price of $0.49 and a 200-day moving average price of $0.43. The stock has a market cap of $31.79 million, a price-to-earnings ratio of -0.26 and a beta of 0.82. FibroGen has a 12 month low of $0.18 and a 12 month high of $2.80.

FibroGen (NASDAQ:FGEN) last issued its quarterly earnings data on Monday, March 17th. The biopharmaceutical company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $3.14 million during the quarter, compared to analysts’ expectations of $24.91 million. Equities analysts forecast that FibroGen will post -0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On FibroGen

Several hedge funds have recently bought and sold shares of FGEN. FMR LLC lifted its holdings in shares of FibroGen by 21.8% during the third quarter. FMR LLC now owns 383,258 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 68,569 shares during the last quarter. Geode Capital Management LLC increased its position in FibroGen by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,083,521 shares of the biopharmaceutical company’s stock valued at $433,000 after buying an additional 32,884 shares in the last quarter. JPMorgan Chase & Co. raised its stake in FibroGen by 430.7% during the third quarter. JPMorgan Chase & Co. now owns 1,673,555 shares of the biopharmaceutical company’s stock valued at $668,000 after buying an additional 1,358,194 shares during the last quarter. Franklin Street Advisors Inc. NC raised its stake in FibroGen by 100.0% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 200,000 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 100,000 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in FibroGen by 80.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,358,712 shares of the biopharmaceutical company’s stock worth $719,000 after acquiring an additional 605,572 shares in the last quarter. Institutional investors own 72.71% of the company’s stock.

About FibroGen

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.