FibroGen, Inc (FGEN) Earns “Outperform” Rating from Leerink Swann
FibroGen, Inc (NASDAQ:FGEN)‘s stock had its “outperform” rating restated by equities researchers at Leerink Swann in a note issued to investors on Tuesday. They presently have a $82.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $52.00. Leerink Swann’s price objective would indicate a potential upside of 145.51% from the company’s previous close.
FGEN has been the subject of a number of other research reports. Goldman Sachs Group, Inc. (The) lowered shares of FibroGen from a “buy” rating to a “neutral” rating and set a $31.00 target price for the company. in a research note on Friday, July 21st. BidaskClub lowered shares of FibroGen from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research lowered shares of FibroGen from a “hold” rating to a “sell” rating in a research note on Monday, May 8th. Citigroup Inc. reissued a “buy” rating and set a $48.00 target price on shares of FibroGen in a research note on Monday, June 26th. Finally, William Blair reissued an “outperform” rating on shares of FibroGen in a research note on Monday, June 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. FibroGen currently has an average rating of “Buy” and an average price target of $56.86.
FibroGen (FGEN) traded up 50.6955% during mid-day trading on Tuesday, hitting $50.3323. The stock had a trading volume of 4,577,251 shares. The stock’s market cap is $3.52 billion. FibroGen has a one year low of $15.60 and a one year high of $51.45. The firm’s 50-day moving average is $32.84 and its 200 day moving average is $27.51.
FibroGen (NASDAQ:FGEN) last issued its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by $0.01. The company had revenue of $29 million for the quarter, compared to analyst estimates of $34.80 million. FibroGen had a negative net margin of 37.60% and a negative return on equity of 36.41%. Equities research analysts expect that FibroGen will post ($1.85) EPS for the current year.
In related news, insider K Peony Yu sold 5,000 shares of FibroGen stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $26.38, for a total value of $131,900.00. Following the transaction, the insider now owns 227,346 shares in the company, valued at approximately $5,997,387.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas B. Neff sold 38,636 shares of FibroGen stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $26.21, for a total transaction of $1,012,649.56. Following the completion of the transaction, the chief executive officer now owns 3,345,941 shares in the company, valued at approximately $87,697,113.61. The disclosure for this sale can be found here. Insiders sold a total of 409,974 shares of company stock worth $12,647,338 in the last quarter. Insiders own 14.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Airain ltd increased its position in FibroGen by 56.6% in the second quarter. Airain ltd now owns 14,971 shares of the biopharmaceutical company’s stock valued at $484,000 after buying an additional 5,409 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of FibroGen by 9.6% in the second quarter. Prudential Financial Inc. now owns 448,780 shares of the biopharmaceutical company’s stock valued at $14,496,000 after buying an additional 39,430 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of FibroGen by 589.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,401 shares of the biopharmaceutical company’s stock valued at $239,000 after buying an additional 6,327 shares during the period. Legal & General Group Plc raised its stake in shares of FibroGen by 12.2% in the second quarter. Legal & General Group Plc now owns 21,333 shares of the biopharmaceutical company’s stock valued at $684,000 after buying an additional 2,317 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of FibroGen by 19.9% in the second quarter. Bank of New York Mellon Corp now owns 292,636 shares of the biopharmaceutical company’s stock valued at $9,452,000 after buying an additional 48,495 shares during the period. Institutional investors own 43.45% of the company’s stock.
FibroGen, Inc is a science-based biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of therapeutics to treat serious unmet medical needs. Its lead product candidate is roxadustat (FG-4592). It is also engaged in developing products, such as FG-6874, FG-3019 and FG-5200.
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