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

Analysts at StockNews.com began coverage on shares of FibroGen (NASDAQ:FGEN) in a research report issued to clients and investors on Tuesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

A number of other research analysts also recently weighed in on the company. William Blair reissued a “market perform” rating on shares of FibroGen in a report on Wednesday, November 13th. HC Wainwright upgraded FibroGen to a “strong-buy” rating in a research note on Tuesday, December 17th.

FibroGen Price Performance

Shares of NASDAQ:FGEN opened at $0.50 on Tuesday. The company has a market capitalization of $50.24 million, a PE ratio of -0.41 and a beta of 0.82. FibroGen has a 1-year low of $0.18 and a 1-year high of $2.93. The business has a fifty day moving average price of $0.36 and a 200-day moving average price of $0.55.

FibroGen (NASDAQ:FGEN) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.21. The business had revenue of $46.33 million during the quarter, compared to analysts’ expectations of $34.00 million. During the same quarter in the prior year, the firm earned ($0.52) EPS. On average, sell-side analysts anticipate that FibroGen will post -0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FGEN. Acadian Asset Management LLC increased its position in shares of FibroGen by 34.4% during the 2nd quarter. Acadian Asset Management LLC now owns 3,364,719 shares of the biopharmaceutical company’s stock valued at $2,997,000 after purchasing an additional 860,854 shares during the last quarter. AQR Capital Management LLC increased its position in shares of FibroGen by 139.6% during the second quarter. AQR Capital Management LLC now owns 1,320,866 shares of the biopharmaceutical company’s stock worth $1,179,000 after acquiring an additional 769,586 shares during the period. Geode Capital Management LLC increased its holdings in FibroGen by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,083,521 shares of the biopharmaceutical company’s stock worth $433,000 after purchasing an additional 32,884 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of FibroGen in the third quarter valued at about $307,000. Finally, XTX Topco Ltd purchased a new stake in shares of FibroGen in the 2nd quarter worth approximately $424,000. 72.71% of the stock is owned by hedge funds and other 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.