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

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

Other analysts also recently issued research reports about the stock. William Blair restated a “market perform” rating on shares of FibroGen in a report on Tuesday, April 1st. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of FibroGen in a research report on Tuesday, March 18th.

FibroGen Price Performance

Shares of NASDAQ:FGEN opened at $0.30 on Tuesday. FibroGen has a 1 year low of $0.18 and a 1 year high of $1.74. The firm has a market capitalization of $30.27 million, a PE ratio of -0.24 and a beta of 0.87. The business’s 50 day moving average price is $0.40 and its 200-day moving average price is $0.42.

FibroGen (NASDAQ:FGEN) last released its earnings results on Monday, March 17th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). The business had revenue of $3.14 million for the quarter, compared to analysts’ expectations of $24.91 million. As a group, analysts expect that FibroGen will post -0.8 earnings per share for the current year.

Insider Activity

In other FibroGen news, CEO Thane Wettig purchased 145,000 shares of the company’s stock in a transaction on Monday, March 24th. The stock was acquired at an average price of $0.35 per share, for a total transaction of $50,750.00. Following the completion of the purchase, the chief executive officer now directly owns 543,329 shares in the company, valued at approximately $190,165.15. The trade was a 36.40 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James A. Schoeneck acquired 250,000 shares of FibroGen stock in a transaction dated Thursday, March 20th. The stock was bought at an average price of $0.35 per share, for a total transaction of $87,500.00. Following the completion of the purchase, the director now owns 323,722 shares of the company’s stock, valued at approximately $113,302.70. This represents a 339.11 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Institutional Trading of FibroGen

A number of large investors have recently made changes to their positions in the company. Two Sigma Securities LLC purchased a new stake in shares of FibroGen in the 4th quarter valued at approximately $27,000. Velan Capital Investment Management LP acquired a new position in FibroGen in the fourth quarter valued at approximately $42,000. XTX Topco Ltd increased its stake in FibroGen by 423.8% in the fourth quarter. XTX Topco Ltd now owns 96,025 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 77,693 shares during the last quarter. Franklin Street Advisors Inc. NC raised its holdings 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 worth $106,000 after purchasing an additional 100,000 shares in the last quarter. Finally, FMR LLC boosted its holdings 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 buying an additional 68,569 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.