StockNews.com Initiates Coverage on FibroGen (NASDAQ:FGEN)

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

Separately, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of FibroGen in a research report on Tuesday.

FibroGen Trading Down 6.4 %

FGEN stock opened at $0.32 on Friday. The business’s fifty day moving average price is $0.49 and its 200 day moving average price is $0.43. FibroGen has a 12-month low of $0.18 and a 12-month high of $2.80. The company has a market capitalization of $31.74 million, a PE ratio of -0.26 and a beta of 0.82.

FibroGen (NASDAQ:FGEN) last issued its quarterly earnings results on Monday, March 17th. The biopharmaceutical company reported ($0.08) earnings per share 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. Research analysts predict that FibroGen will post -0.8 EPS for the current fiscal year.

Institutional Trading of FibroGen

A number of large investors have recently made changes to their positions in FGEN. FMR LLC boosted its position in shares of FibroGen by 21.8% in the 3rd 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 period. Geode Capital Management LLC lifted 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 worth $433,000 after acquiring an additional 32,884 shares during the period. JPMorgan Chase & Co. raised its stake in shares of FibroGen by 430.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,673,555 shares of the biopharmaceutical company’s stock worth $668,000 after buying an additional 1,358,194 shares in the last quarter. Franklin Street Advisors Inc. NC raised its stake in shares of FibroGen by 100.0% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 200,000 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 100,000 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of FibroGen by 80.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,358,712 shares of the biopharmaceutical company’s stock worth $719,000 after buying an additional 605,572 shares in the last quarter. 72.71% of the stock is owned by institutional investors and hedge funds.

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.