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

StockNews.com assumed coverage on shares of FibroGen (NASDAQ:FGEN) in a research report released on Thursday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently issued reports on FGEN. William Blair reaffirmed a “market perform” rating on shares of FibroGen in a report on Tuesday, April 1st. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of FibroGen in a report on Tuesday, March 18th.

FibroGen Stock Down 1.6 %

Shares of NASDAQ FGEN opened at $0.33 on Thursday. The business’s 50 day moving average price is $0.34 and its 200 day moving average price is $0.41. The firm has a market cap of $33.69 million, a P/E ratio of -0.27 and a beta of 0.86. FibroGen has a 52 week low of $0.18 and a 52 week high of $1.74.

FibroGen (NASDAQ:FGEN) last announced its quarterly earnings results on Monday, March 17th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $3.14 million for the quarter, compared to analysts’ expectations of $24.91 million. As a group, research analysts expect that FibroGen will post -0.8 earnings per share for the current year.

Insider Activity

In related news, Director James A. Schoeneck bought 250,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average cost of $0.35 per share, with a total value of $87,500.00. Following the purchase, the director now directly owns 323,722 shares of the company’s stock, valued at $113,302.70. This trade represents a 339.11 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Thane Wettig bought 145,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average price of $0.35 per share, for a total transaction of $50,750.00. Following the completion of the purchase, the chief executive officer now directly owns 543,329 shares of the company’s stock, valued at approximately $190,165.15. This trade represents a 36.40 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On FibroGen

A number of hedge funds and other institutional investors have recently modified their holdings of FGEN. Mackenzie Financial Corp raised its stake in FibroGen by 416.6% during the 4th quarter. Mackenzie Financial Corp now owns 546,959 shares of the biopharmaceutical company’s stock worth $290,000 after acquiring an additional 441,083 shares in the last quarter. Velan Capital Investment Management LP acquired a new stake in shares of FibroGen during the fourth quarter worth $42,000. Squarepoint Ops LLC purchased a new stake in shares of FibroGen in the fourth quarter valued at about $205,000. Two Sigma Investments LP increased its position in FibroGen by 19.6% during the 4th quarter. Two Sigma Investments LP now owns 604,421 shares of the biopharmaceutical company’s stock worth $320,000 after purchasing an additional 98,888 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in FibroGen by 18.3% during the fourth quarter. Two Sigma Advisers LP now owns 878,400 shares of the biopharmaceutical company’s stock worth $465,000 after acquiring an additional 135,600 shares during the period. 72.71% of the stock is currently owned by institutional investors and hedge funds.

FibroGen Company Profile

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.