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

Investment analysts at StockNews.com assumed coverage on shares of FibroGen (NASDAQ:FGEN) in a report released on Tuesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

FibroGen Trading Up 3.8 %

FibroGen stock opened at $0.32 on Tuesday. The company has a market capitalization of $31.61 million, a PE ratio of -0.13 and a beta of 0.70. FibroGen has a 12 month low of $0.30 and a 12 month high of $2.93. The stock has a 50-day moving average price of $0.38 and a two-hundred day moving average price of $0.78.

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

Institutional Investors Weigh In On FibroGen

Several institutional investors and hedge funds have recently made changes to their positions in FGEN. Alpine Global Management LLC acquired a new stake in shares of FibroGen in the first quarter valued at about $25,000. Delap Wealth Advisory LLC acquired a new stake in FibroGen during the first quarter worth approximately $27,000. Point72 DIFC Ltd grew its stake in 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. Doheny Asset Management CA acquired a new stake in FibroGen during the second quarter worth approximately $48,000. Finally, Accel Wealth Management grew its stake in FibroGen by 117.5% during the second quarter. Accel Wealth Management now owns 95,600 shares of the biopharmaceutical company’s stock worth $85,000 after purchasing an additional 51,645 shares during the period. Institutional investors and hedge funds 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.