Mizuho Begins Coverage on FibroGen, Inc (FGEN)
Equities research analysts at Mizuho started coverage on shares of FibroGen, Inc (NASDAQ:FGEN) in a note issued to investors on Wednesday, The Fly reports. The brokerage set a “neutral” rating on the biopharmaceutical company’s stock.
Other analysts have also recently issued research reports about the company. Stifel Nicolaus reissued a “buy” rating and set a $80.00 price objective on shares of FibroGen in a research report on Thursday, September 14th. Jefferies Group LLC restated a “buy” rating and issued a $75.00 target price on shares of FibroGen in a research note on Tuesday, September 12th. William Blair reaffirmed an “outperform” rating on shares of FibroGen in a research report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) lowered FibroGen from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research report on Friday, July 21st. Finally, BidaskClub downgraded FibroGen from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $60.17.
Shares of FibroGen (NASDAQ FGEN) traded up 7.23% during trading on Wednesday, reaching $60.10. 2,813,853 shares of the company traded hands. FibroGen has a 12 month low of $15.60 and a 12 month high of $60.15. The firm’s market capitalization is $4.28 billion. The firm has a 50-day moving average price of $48.38 and a 200-day moving average price of $34.57.
FibroGen (NASDAQ:FGEN) last announced its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.01). FibroGen had a negative return on equity of 64.42% and a negative net margin of 105.59%. The business had revenue of $29.00 million during the quarter, compared to analysts’ expectations of $34.80 million. Equities research analysts anticipate that FibroGen will post ($1.80) EPS for the current year.
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In other FibroGen news, Director Jorma Routti sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $47.36, for a total transaction of $568,320.00. Following the completion of the sale, the director now owns 133,840 shares of the company’s stock, valued at $6,338,662.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Pat Cotroneo sold 95,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $50.61, for a total value of $4,807,950.00. Following the sale, the vice president now directly owns 173,366 shares of the company’s stock, valued at approximately $8,774,053.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 506,828 shares of company stock valued at $22,574,671. 14.90% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of FibroGen by 29,724.1% in the first quarter. BlackRock Inc. now owns 4,454,819 shares of the biopharmaceutical company’s stock worth $109,811,000 after buying an additional 4,439,882 shares during the last quarter. FMR LLC boosted its holdings in shares of FibroGen by 96.9% during the 2nd quarter. FMR LLC now owns 3,335,997 shares of the biopharmaceutical company’s stock worth $107,753,000 after buying an additional 1,641,423 shares during the period. EcoR1 Capital LLC boosted its holdings in shares of FibroGen by 3,674.1% during the 2nd quarter. EcoR1 Capital LLC now owns 1,585,457 shares of the biopharmaceutical company’s stock worth $51,210,000 after buying an additional 1,543,448 shares during the period. Janus Henderson Group PLC bought a new stake in shares of FibroGen during the 2nd quarter worth $45,633,000. Finally, Vanguard Group Inc. boosted its holdings in shares of FibroGen by 15.1% during the 2nd quarter. Vanguard Group Inc. now owns 5,808,439 shares of the biopharmaceutical company’s stock worth $187,612,000 after buying an additional 761,421 shares during the period. 47.49% of the stock is currently owned by institutional investors.
FibroGen, Inc is a science-based biopharmaceutical company discovering and developing a pipeline of first- in-class therapeutics. The Company is focused on fibrosis and hypoxia-inducible factor (HIF) biology and clinical development to advance innovative medicines for the treatment of anemia, fibrotic disease, and cancer.
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