FibroGen (FGEN) Rating Lowered to Neutral at Citigroup

FibroGen (NASDAQ:FGEN) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Wednesday, The Fly reports. They presently have a $71.00 price objective on the biopharmaceutical company’s stock. Citigroup’s target price suggests a potential upside of 12.79% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. ValuEngine upgraded FibroGen from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. Mizuho restated a “buy” rating and set a $61.00 target price on shares of FibroGen in a research note on Friday, June 1st. BidaskClub raised FibroGen from a “hold” rating to a “buy” rating in a research report on Thursday, May 24th. Finally, Zacks Investment Research raised FibroGen from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $77.60.

FGEN stock opened at $62.95 on Wednesday. The company has a market cap of $5.11 billion, a P/E ratio of -36.39 and a beta of 1.88. FibroGen has a fifty-two week low of $40.26 and a fifty-two week high of $68.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 8.61 and a quick ratio of 8.61.

FibroGen (NASDAQ:FGEN) last posted its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.31. The firm had revenue of $43.95 million during the quarter, compared to analysts’ expectations of $28.70 million. FibroGen had a negative return on equity of 27.70% and a negative net margin of 102.86%. sell-side analysts anticipate that FibroGen will post -1.58 earnings per share for the current fiscal year.

In other FibroGen news, Director Kalevi Kurkijarvi sold 4,000 shares of FibroGen stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $51.83, for a total transaction of $207,320.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas B. Neff sold 39,636 shares of FibroGen stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $63.00, for a total value of $2,497,068.00. Following the transaction, the chief executive officer now directly owns 2,804,873 shares in the company, valued at approximately $176,706,999. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 300,866 shares of company stock worth $18,072,314. 8.96% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farallon Capital Management LLC increased its position in FibroGen by 3.6% during the first quarter. Farallon Capital Management LLC now owns 1,717,500 shares of the biopharmaceutical company’s stock worth $79,349,000 after buying an additional 60,000 shares during the period. First Trust Advisors LP increased its position in FibroGen by 19.4% during the second quarter. First Trust Advisors LP now owns 1,198,925 shares of the biopharmaceutical company’s stock worth $75,053,000 after buying an additional 194,766 shares during the period. Eagle Asset Management Inc. increased its holdings in shares of FibroGen by 18.5% in the second quarter. Eagle Asset Management Inc. now owns 971,694 shares of the biopharmaceutical company’s stock valued at $60,828,000 after purchasing an additional 151,574 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of FibroGen by 26.2% in the first quarter. Lord Abbett & CO. LLC now owns 579,289 shares of the biopharmaceutical company’s stock valued at $26,763,000 after purchasing an additional 120,258 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of FibroGen by 61.9% in the second quarter. Jennison Associates LLC now owns 526,343 shares of the biopharmaceutical company’s stock valued at $32,949,000 after purchasing an additional 201,289 shares during the period. 63.94% of the stock is currently owned by institutional investors.

FibroGen Company Profile

FibroGen, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes therapeutic agents to treat serious unmet medical needs. It is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases (HIF-PHs) that is in Phase III clinical development for the treatment of anemia in chronic kidney disease; Pamrevlumab, a human-monoclonal antibody that inhibits the activity of connective tissue growth factor, which is in Phase II clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, liver fibrosis, and Duchenne muscular dystrophy; and FG-5200, a corneal implant medical device for the treatment of corneal blindness resulting from partial thickness corneal damage.

Further Reading: Earnings Per Share

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Analyst Recommendations for FibroGen (NASDAQ:FGEN)

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