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

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

FibroGen Trading Down 8.1 %

NASDAQ:FGEN opened at $0.37 on Friday. FibroGen has a 12 month low of $0.33 and a 12 month high of $2.93. The company has a 50-day moving average price of $0.43 and a 200-day moving average price of $1.00. The stock has a market cap of $36.48 million, a price-to-earnings ratio of -0.15 and a beta of 0.70.

FibroGen (NASDAQ:FGEN) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.09. The company had revenue of $50.64 million during the quarter, compared to the consensus estimate of $33.00 million. During the same period last year, the firm posted ($0.65) earnings per share. Equities analysts forecast that FibroGen will post -0.91 EPS for the current fiscal year.

Institutional Trading of FibroGen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its stake in FibroGen by 34.4% in the 2nd quarter. Acadian Asset Management LLC now owns 3,364,719 shares of the biopharmaceutical company’s stock worth $2,997,000 after acquiring an additional 860,854 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of FibroGen by 139.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,320,866 shares of the biopharmaceutical company’s stock valued at $1,179,000 after buying an additional 769,586 shares in the last quarter. Pennant Investors LP purchased a new position in shares of FibroGen in the 4th quarter worth approximately $681,000. XTX Topco Ltd purchased a new stake in FibroGen during the second quarter valued at approximately $424,000. Finally, Cubist Systematic Strategies LLC boosted its stake in FibroGen by 3,906.9% in the second quarter. Cubist Systematic Strategies LLC now owns 287,332 shares of the biopharmaceutical company’s stock valued at $256,000 after acquiring an additional 280,161 shares in the last quarter. 72.71% of the stock is 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.