StockNews.com Initiates Coverage on FibroGen (NASDAQ:FGEN)

Equities researchers at StockNews.com assumed coverage on shares of FibroGen (NASDAQ:FGEN) in a research note issued on Thursday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, William Blair reiterated a “market perform” rating on shares of FibroGen in a research report on Wednesday.

FibroGen Price Performance

Shares of NASDAQ:FGEN opened at $0.33 on Thursday. FibroGen has a 1 year low of $0.18 and a 1 year high of $2.93. The stock has a market capitalization of $33.73 million, a price-to-earnings ratio of -0.28 and a beta of 0.72. The company’s 50 day simple moving average is $0.37 and its 200 day simple moving average is $0.72.

FibroGen (NASDAQ:FGEN) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.21. The business had revenue of $46.33 million during the quarter, compared to analyst estimates of $34.00 million. During the same period in the prior year, the business posted ($0.52) EPS. As a group, analysts anticipate that FibroGen will post -1.12 EPS for the current fiscal year.

Institutional Trading of FibroGen

A number of hedge funds and other institutional investors have recently modified their holdings of FGEN. Alpine Global Management LLC acquired a new position in shares of FibroGen in the first quarter valued at approximately $25,000. Delap Wealth Advisory LLC acquired a new position in FibroGen in the 1st quarter valued at approximately $27,000. Acadian Asset Management LLC raised its stake in shares of FibroGen by 1.4% during the first quarter. Acadian Asset Management LLC now owns 2,503,865 shares of the biopharmaceutical company’s stock valued at $5,883,000 after acquiring an additional 34,937 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of FibroGen by 38.4% during the second quarter. Sei Investments Co. now owns 149,342 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 41,442 shares during the period. Finally, Point72 DIFC Ltd lifted its holdings in shares of FibroGen by 734.2% during the second quarter. Point72 DIFC Ltd now owns 52,254 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 45,990 shares during the period. Institutional investors 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.