Arizona State Retirement System Buys 1,043 Shares of FibroGen, Inc. (NASDAQ:FGEN)

Arizona State Retirement System grew its position in FibroGen, Inc. (NASDAQ:FGEN – Get Rating) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 25,129 shares of the biopharmaceutical company’s stock after acquiring an additional 1,043 shares during the period. Arizona State Retirement System’s holdings in FibroGen were worth $403,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Royal Bank of Canada raised its position in FibroGen by 45.3% in the third quarter. Royal Bank of Canada now owns 2,314 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 721 shares during the last quarter. Quantbot Technologies LP bought a new position in FibroGen in the 2nd quarter valued at approximately $39,000. U.S. Capital Wealth Advisors LLC bought a new position in FibroGen in the 4th quarter valued at approximately $54,000. Allspring Global Investments Holdings LLC boosted its position in FibroGen by 67.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,841 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 3,551 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in FibroGen during the 1st quarter worth approximately $142,000. Institutional investors and hedge funds own 76.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FGEN. The Goldman Sachs Group lifted their price target on shares of FibroGen from $9.00 to $16.00 and gave the stock a “sell” rating in a report on Tuesday, February 21st. Raymond James raised FibroGen from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research note on Thursday, January 26th. Cowen lifted their price objective on FibroGen from $15.00 to $25.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 28th. William Blair raised shares of FibroGen from a “market perform” rating to an “outperform” rating in a research report on Monday, January 30th. Finally, StockNews.com began coverage on shares of FibroGen in a research report on Thursday. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, FibroGen has an average rating of “Hold” and a consensus target price of $23.40.

Insider Buying and Selling at FibroGen

In other news, insider Mark Eisner sold 7,363 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $21.16, for a total value of $155,801.08. Following the completion of the sale, the insider now directly owns 165,133 shares in the company, valued at approximately $3,494,214.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other FibroGen news, insider Mark Eisner sold 7,363 shares of the firm’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $21.16, for a total value of $155,801.08. Following the completion of the sale, the insider now owns 165,133 shares of the company’s stock, valued at $3,494,214.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Enrique A. Conterno sold 24,672 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $21.16, for a total value of $522,059.52. Following the sale, the chief executive officer now owns 356,111 shares of the company’s stock, valued at approximately $7,535,308.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,931 shares of company stock valued at $2,358,203. Corporate insiders own 2.82% of the company’s stock.

FibroGen Price Performance

NASDAQ FGEN opened at $17.57 on Friday. The stock has a market capitalization of $1.71 billion, a P/E ratio of -5.37 and a beta of 0.80. The business has a 50 day simple moving average of $18.52 and a 200 day simple moving average of $18.58. FibroGen, Inc. has a one year low of $8.15 and a one year high of $25.69.

FibroGen (NASDAQ:FGEN – Get Rating) last announced its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.05). FibroGen had a negative return on equity of 879.75% and a negative net margin of 264.63%. The company had revenue of $36.16 million for the quarter, compared to analyst estimates of $31.52 million. During the same period last year, the business earned ($0.68) EPS. The business’s quarterly revenue was down 40.6% compared to the same quarter last year. Equities analysts expect that FibroGen, Inc. will post -2.83 earnings per share for the current year.

FibroGen Company Profile

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FibroGen, Inc is a biopharmaceutical company, which engages in the discovery, development, and commercialization of novel therapeutics. It focuses on the hypoxia-inducible factor and connective tissue growth factor biology to develop medicines for the treatment of anemia, fibrotic disease, and cancer.