FibroGen (NASDAQ:FGEN) Coverage Initiated at StockNews.com

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

Other analysts also recently issued research reports about the company. HC Wainwright upgraded FibroGen to a “strong-buy” rating in a research report on Tuesday, December 17th. William Blair restated a “market perform” rating on shares of FibroGen in a report on Wednesday, November 13th.

FibroGen Stock Performance

Shares of FGEN stock opened at $0.55 on Thursday. FibroGen has a fifty-two week low of $0.18 and a fifty-two week high of $2.80. The stock has a 50 day moving average price of $0.49 and a two-hundred day moving average price of $0.43. The company has a market capitalization of $55.88 million, a P/E ratio of -0.45 and a beta of 0.75.

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 the consensus estimate of ($0.38) by $0.21. The company had revenue of $46.33 million during the quarter, compared to the consensus estimate of $34.00 million. During the same quarter in the previous year, the firm posted ($0.52) EPS. As a group, equities analysts predict that FibroGen will post -0.8 earnings per share for the current year.

Hedge Funds Weigh In On FibroGen

A number of hedge funds and other institutional investors have recently made changes to their positions in FGEN. JPMorgan Chase & Co. raised its holdings 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 valued at $668,000 after acquiring an additional 1,358,194 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in FibroGen in the third quarter worth $307,000. Renaissance Technologies LLC grew its stake in FibroGen by 80.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,358,712 shares of the biopharmaceutical company’s stock worth $719,000 after purchasing an additional 605,572 shares during the period. Franklin Street Advisors Inc. NC grew its stake in FibroGen by 100.0% in 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 during the period. Finally, XTX Topco Ltd grew its stake in FibroGen by 423.8% in the fourth quarter. XTX Topco Ltd now owns 96,025 shares of the biopharmaceutical company’s stock worth $51,000 after purchasing an additional 77,693 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.