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

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

A number of other research analysts also recently issued reports on FGEN. HC Wainwright raised FibroGen to a “strong-buy” rating in a report on Tuesday, December 17th. William Blair reaffirmed a “market perform” rating on shares of FibroGen in a research note on Wednesday, November 13th.

FibroGen Trading Down 4.1 %

NASDAQ:FGEN opened at $0.46 on Thursday. The company has a market capitalization of $45.95 million, a P/E ratio of -0.37 and a beta of 0.75. The firm has a fifty day simple moving average of $0.49 and a 200-day simple moving average of $0.43. FibroGen has a 12 month low of $0.18 and a 12 month high of $2.80.

FibroGen (NASDAQ:FGEN) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.17) earnings per share 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 analyst estimates of $34.00 million. During the same period in the prior year, the company posted ($0.52) earnings per share. Equities analysts forecast that FibroGen will post -0.8 EPS for the current year.

Institutional Investors Weigh In On FibroGen

A number of hedge funds have recently bought and sold shares of FGEN. Franklin Street Advisors Inc. NC grew its stake in shares of 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. FMR LLC lifted its holdings in FibroGen by 21.8% during the 3rd quarter. FMR LLC now owns 383,258 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 68,569 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of FibroGen during the 3rd quarter worth about $307,000. Geode Capital Management LLC increased 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 valued at $433,000 after acquiring an additional 32,884 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of FibroGen by 430.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,673,555 shares of the biopharmaceutical company’s stock valued at $668,000 after acquiring an additional 1,358,194 shares during the last quarter. Institutional investors and hedge funds own 72.71% of the company’s stock.

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.