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

FibroGen (NASDAQ:FGEN)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They presently have a $43.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 251.31% from the stock’s current price.

Separately, Wall Street Zen upgraded shares of FibroGen from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.00.

FibroGen Price Performance

Shares of FibroGen stock opened at $12.24 on Wednesday. FibroGen has a one year low of $4.50 and a one year high of $21.94. The business has a 50-day simple moving average of $9.95 and a 200 day simple moving average of $8.32. The firm has a market capitalization of $49.45 million, a price-to-earnings ratio of -32.21 and a beta of 0.76.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings data on Monday, August 11th. The biopharmaceutical company reported ($3.38) EPS for the quarter, missing the consensus estimate of ($2.25) by ($1.13). The firm had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $2.88 million. On average, sell-side analysts expect that FibroGen will post -0.8 EPS for the current year.

Insider Transactions at FibroGen

In other news, Director James A. Schoeneck acquired 23,567 shares of the business’s stock in a transaction on Monday, June 30th. The shares were purchased at an average cost of $5.07 per share, with a total value of $119,484.69. Following the acquisition, the director directly owned 39,666 shares of the company’s stock, valued at $201,106.62. The trade was a 146.39% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Connective Capital Management LLC purchased a new position in FibroGen during the second quarter worth about $80,000. HighTower Advisors LLC raised its stake in shares of FibroGen by 292.8% during the 1st quarter. HighTower Advisors LLC now owns 404,488 shares of the biopharmaceutical company’s stock worth $125,000 after purchasing an additional 301,500 shares during the period. Squarepoint Ops LLC bought a new stake in shares of FibroGen during the 4th quarter worth $205,000. Mackenzie Financial Corp boosted its holdings in shares of 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 buying an additional 441,083 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in FibroGen by 19.6% during the fourth quarter. Two Sigma Investments LP now owns 604,421 shares of the biopharmaceutical company’s stock valued at $320,000 after buying an additional 98,888 shares during the period. 72.71% of the stock is owned by institutional investors.

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.