FibroGen (NASDAQ:FGEN) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com assumed coverage on shares of FibroGen (NASDAQ:FGEN) in a research note issued on Friday. 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 report on Monday, June 3rd.

FibroGen Stock Performance

Shares of FGEN stock opened at $0.39 on Friday. The stock has a 50 day moving average price of $0.54 and a 200 day moving average price of $1.07. FibroGen has a 52-week low of $0.33 and a 52-week high of $2.93. The firm has a market capitalization of $38.95 million, a P/E ratio of -0.16 and a beta of 0.69.

FibroGen (NASDAQ:FGEN) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.09. The business had revenue of $50.64 million for the quarter, compared to the consensus estimate of $33.00 million. During the same quarter last year, the business posted ($0.65) earnings per share. As a group, sell-side analysts forecast that FibroGen will post -0.91 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FGEN. Armistice Capital LLC raised its position in FibroGen by 23.7% during the 4th quarter. Armistice Capital LLC now owns 9,764,000 shares of the biopharmaceutical company’s stock valued at $8,654,000 after purchasing an additional 1,872,000 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of FibroGen by 34.4% in the second quarter. Acadian Asset Management LLC now owns 3,364,719 shares of the biopharmaceutical company’s stock valued at $2,997,000 after acquiring an additional 860,854 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of FibroGen by 139.6% in the second quarter. AQR Capital Management LLC now owns 1,320,866 shares of the biopharmaceutical company’s stock valued at $1,179,000 after acquiring an additional 769,586 shares in the last quarter. Pennant Investors LP purchased a new stake in FibroGen in the fourth quarter worth about $681,000. Finally, XTX Topco Ltd bought a new position in FibroGen during the 2nd quarter worth about $424,000. 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.