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

StockNews.com started coverage on shares of FibroGen (NASDAQ:FGEN) in a research report sent to investors on Friday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Separately, William Blair reaffirmed a “market perform” rating on shares of FibroGen in a research note on Wednesday, November 13th.

FibroGen Stock Performance

Shares of NASDAQ FGEN opened at $0.39 on Friday. The company’s 50 day moving average price is $0.36 and its 200-day moving average price is $0.67. FibroGen has a 52-week low of $0.18 and a 52-week high of $2.93. The company has a market capitalization of $39.30 million, a P/E ratio of -0.32 and a beta of 0.72.

FibroGen (NASDAQ:FGEN) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.21. The firm had revenue of $46.33 million during the quarter, compared to analyst estimates of $34.00 million. During the same quarter in the previous year, the firm earned ($0.52) EPS. Analysts forecast that FibroGen will post -0.86 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Alpine Global Management LLC bought a new position in shares of FibroGen during the 1st quarter worth about $25,000. Accel Wealth Management boosted its holdings in FibroGen by 117.5% in the second quarter. Accel Wealth Management now owns 95,600 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 51,645 shares in the last quarter. Franklin Street Advisors Inc. NC acquired a new stake in FibroGen in the second quarter valued at approximately $89,000. Acadian Asset Management LLC increased its holdings in shares of FibroGen by 34.4% during 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. Finally, Doheny Asset Management CA bought a new stake in shares of FibroGen during the second quarter valued at approximately $48,000. 72.71% of the stock is owned by institutional investors.

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.