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

Research analysts at StockNews.com initiated coverage on shares of FibroGen (NASDAQ:FGEN) in a research report issued on Saturday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of FibroGen in a research report on Tuesday.

FibroGen Stock Down 6.4 %

Shares of NASDAQ:FGEN opened at $0.32 on Friday. The company has a market cap of $31.74 million, a P/E ratio of -0.26 and a beta of 0.82. FibroGen has a 52 week low of $0.18 and a 52 week high of $2.80. The business has a fifty day simple moving average of $0.49 and a 200-day simple moving average of $0.43.

FibroGen (NASDAQ:FGEN) last announced its quarterly earnings data on Monday, March 17th. The biopharmaceutical company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). The business had revenue of $3.14 million during the quarter, compared to analysts’ expectations of $24.91 million. Sell-side analysts expect that FibroGen will post -0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FibroGen

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in shares of FibroGen by 430.7% in the third quarter. JPMorgan Chase & Co. now owns 1,673,555 shares of the biopharmaceutical company’s stock worth $668,000 after acquiring an additional 1,358,194 shares in the last quarter. Renaissance Technologies LLC raised its stake in FibroGen by 80.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,358,712 shares of the biopharmaceutical company’s stock valued at $719,000 after buying an additional 605,572 shares in the last quarter. Mackenzie Financial Corp raised its stake in FibroGen by 416.6% during the fourth quarter. Mackenzie Financial Corp now owns 546,959 shares of the biopharmaceutical company’s stock valued at $290,000 after buying an additional 441,083 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in FibroGen during the fourth quarter valued at approximately $205,000. Finally, Two Sigma Advisers LP raised its stake in FibroGen by 18.3% during the fourth quarter. Two Sigma Advisers LP now owns 878,400 shares of the biopharmaceutical company’s stock valued at $465,000 after buying an additional 135,600 shares in the last quarter. Hedge funds and other institutional investors own 72.71% of the company’s stock.

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.