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

StockNews.com started coverage on shares of FibroGen (NASDAQ:FGEN) in a research note published on Wednesday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

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

FibroGen Stock Performance

FGEN opened at $0.50 on Wednesday. The stock has a market capitalization of $50.73 million, a price-to-earnings ratio of -0.41 and a beta of 0.75. The company has a fifty day moving average of $0.49 and a two-hundred day moving average of $0.46. FibroGen has a fifty-two week low of $0.18 and a fifty-two week high of $2.93.

FibroGen (NASDAQ:FGEN) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.21. The company had revenue of $46.33 million during the quarter, compared to analysts’ expectations of $34.00 million. During the same quarter last year, the company earned ($0.52) earnings per share. On average, equities research analysts forecast that FibroGen will post -0.8 earnings per share for the current year.

Hedge Funds Weigh In On FibroGen

A number of institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. increased its stake in shares of FibroGen by 38.4% in the second quarter. Sei Investments Co. now owns 149,342 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 41,442 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of FibroGen during the second quarter valued at $145,000. AQR Capital Management LLC raised its holdings 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 valued at $1,179,000 after acquiring an additional 769,586 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of FibroGen by 3,906.9% in the second quarter. Cubist Systematic Strategies LLC now owns 287,332 shares of the biopharmaceutical company’s stock valued at $256,000 after purchasing an additional 280,161 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in FibroGen during the 3rd quarter valued at about $307,000. 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.