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

StockNews.com assumed coverage on shares of FibroGen (NASDAQ:FGEN) in a report released on Friday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, William Blair reissued a “market perform” rating on shares of FibroGen in a research report on Wednesday, November 13th.

FibroGen Price Performance

Shares of FGEN opened at $0.40 on Friday. The business has a 50-day moving average of $0.36 and a 200-day moving average of $0.69. FibroGen has a 1 year low of $0.18 and a 1 year high of $2.93. The company has a market capitalization of $39.84 million, a price-to-earnings ratio of -0.32 and a beta of 0.72.

FibroGen (NASDAQ:FGEN) last issued its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.21. The business had revenue of $46.33 million for the quarter, compared to analyst estimates of $34.00 million. During the same quarter in the previous year, the business posted ($0.52) earnings per share. As a group, sell-side analysts anticipate that FibroGen will post -0.86 EPS for the current year.

Institutional Trading of FibroGen

Several hedge funds have recently bought and sold shares of FGEN. Alpine Global Management LLC acquired a new position in FibroGen during the first quarter worth $25,000. Geode Capital Management LLC raised its holdings in shares of FibroGen by 3.1% in 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 last quarter. Sei Investments Co. lifted its position in FibroGen by 38.4% in the 2nd quarter. Sei Investments Co. now owns 149,342 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 41,442 shares in the last quarter. Point72 DIFC Ltd increased its holdings in FibroGen by 734.2% during the 2nd quarter. Point72 DIFC Ltd now owns 52,254 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 45,990 shares in the last quarter. Finally, Accel Wealth Management increased its holdings in FibroGen by 117.5% during the 2nd quarter. Accel Wealth Management now owns 95,600 shares of the biopharmaceutical company’s stock worth $85,000 after purchasing an additional 51,645 shares in the last quarter. Institutional investors and hedge funds own 72.71% of the company’s stock.

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.