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

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

Separately, HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of FibroGen in a report on Tuesday, March 18th.

FibroGen Stock Performance

Shares of FibroGen stock opened at $0.31 on Friday. The firm has a market cap of $31.67 million, a PE ratio of -0.26 and a beta of 0.82. The business’s 50 day simple moving average is $0.46 and its 200 day simple moving average is $0.43. FibroGen has a 52-week low of $0.18 and a 52-week high of $2.40.

FibroGen (NASDAQ:FGEN) last posted its quarterly earnings data on Monday, March 17th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). The business had revenue of $3.14 million during the quarter, compared to analyst estimates of $24.91 million. As a group, equities research analysts predict that FibroGen will post -0.8 EPS for the current year.

Insider Activity at FibroGen

In other FibroGen news, Director James A. Schoeneck acquired 250,000 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was bought at an average cost of $0.35 per share, with a total value of $87,500.00. Following the completion of the transaction, the director now directly owns 323,722 shares in the company, valued at approximately $113,302.70. This represents a 339.11 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Thane Wettig bought 145,000 shares of FibroGen stock in a transaction dated Monday, March 24th. The shares were acquired at an average price of $0.35 per share, with a total value 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 $190,165.15. This trade represents a 36.40 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On FibroGen

A number of large investors have recently added to or reduced their stakes in the business. FMR LLC raised its position in shares of FibroGen by 21.8% in the third quarter. FMR LLC now owns 383,258 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 68,569 shares during the period. Geode Capital Management LLC grew its position in shares of FibroGen by 3.1% in the third quarter. Geode Capital Management LLC now owns 1,083,521 shares of the biopharmaceutical company’s stock valued at $433,000 after purchasing an additional 32,884 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of FibroGen by 430.7% during the third quarter. JPMorgan Chase & Co. now owns 1,673,555 shares of the biopharmaceutical company’s stock worth $668,000 after purchasing an additional 1,358,194 shares during the period. Franklin Street Advisors Inc. NC lifted its holdings in FibroGen by 100.0% during the 4th 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 during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in FibroGen by 80.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,358,712 shares of the biopharmaceutical company’s stock valued at $719,000 after purchasing an additional 605,572 shares during the period. Institutional investors 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.