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

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

Separately, William Blair reiterated a “market perform” rating on shares of FibroGen in a report on Wednesday.

FibroGen Trading Down 9.5 %

Shares of FGEN opened at $0.33 on Thursday. The company has a market cap of $33.73 million, a price-to-earnings ratio of -0.28 and a beta of 0.72. The company’s fifty day simple moving average is $0.37 and its 200 day simple moving average is $0.72. FibroGen has a 1-year low of $0.18 and a 1-year high of $2.93.

FibroGen (NASDAQ:FGEN) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.21. The firm had revenue of $46.33 million during the quarter, compared to the consensus estimate of $34.00 million. During the same period in the previous year, the company posted ($0.52) earnings per share. As a group, research analysts forecast that FibroGen will post -1.12 earnings per share for the current year.

Institutional Trading of FibroGen

Several institutional investors have recently added to or reduced their stakes in the company. Alpine Global Management LLC acquired a new stake in shares of FibroGen in the first quarter valued at approximately $25,000. Delap Wealth Advisory LLC bought a new position in FibroGen during the 1st quarter worth $27,000. Point72 DIFC Ltd raised its holdings in FibroGen by 734.2% in the 2nd quarter. Point72 DIFC Ltd now owns 52,254 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 45,990 shares in the last quarter. Doheny Asset Management CA bought a new stake in shares of FibroGen during the 2nd quarter valued at $48,000. Finally, Accel Wealth Management lifted its position in shares of FibroGen by 117.5% during the 2nd quarter. Accel Wealth Management now owns 95,600 shares of the biopharmaceutical company’s stock valued at $85,000 after acquiring an additional 51,645 shares during the period. 72.71% of the stock is currently 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.