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

Investment analysts at StockNews.com assumed coverage on shares of FibroGen (NASDAQ:FGEN) in a note issued to investors on Tuesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Several other research firms have also recently issued reports on FGEN. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of FibroGen in a report on Tuesday, March 18th. William Blair reiterated a “market perform” rating on shares of FibroGen in a research note on Tuesday, April 1st.

FibroGen Stock Up 8.2 %

NASDAQ FGEN opened at $0.30 on Tuesday. The business’s 50-day moving average price is $0.40 and its 200 day moving average price is $0.42. The firm has a market cap of $30.27 million, a P/E ratio of -0.24 and a beta of 0.87. FibroGen has a 52-week low of $0.18 and a 52-week high of $1.74.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $24.91 million. As a group, analysts anticipate that FibroGen will post -0.8 earnings per share for the current year.

Insider Buying and Selling at FibroGen

In related news, Director James A. Schoeneck acquired 250,000 shares of FibroGen stock in a transaction dated Thursday, March 20th. The shares were acquired at an average cost of $0.35 per share, for a total transaction of $87,500.00. Following the completion of the transaction, the director now directly owns 323,722 shares of the company’s stock, valued at $113,302.70. The trade was a 339.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Thane Wettig acquired 145,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average cost of $0.35 per share, for a total transaction of $50,750.00. Following the purchase, the chief executive officer now owns 543,329 shares of the company’s stock, valued at approximately $190,165.15. The trade was a 36.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FibroGen

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp grew its stake in FibroGen by 416.6% in the 4th quarter. Mackenzie Financial Corp now owns 546,959 shares of the biopharmaceutical company’s stock worth $290,000 after acquiring an additional 441,083 shares during the period. Velan Capital Investment Management LP purchased a new position in FibroGen during the fourth quarter worth approximately $42,000. Squarepoint Ops LLC acquired a new position in FibroGen in the fourth quarter valued at $205,000. Two Sigma Investments LP grew its holdings in shares of FibroGen by 19.6% during the 4th quarter. Two Sigma Investments LP now owns 604,421 shares of the biopharmaceutical company’s stock worth $320,000 after purchasing an additional 98,888 shares during the period. Finally, Two Sigma Advisers LP increased its position in shares of FibroGen by 18.3% in the fourth quarter. Two Sigma Advisers LP now owns 878,400 shares of the biopharmaceutical company’s stock worth $465,000 after acquiring an additional 135,600 shares in the last quarter. 72.71% of the stock is currently owned by hedge funds and other institutional investors.

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.