FibroGen (NASDAQ:FGEN) Research Coverage Started at StockNews.com

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

Separately, HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of FibroGen in a research report on Tuesday, March 18th.

FibroGen Stock Down 3.2 %

NASDAQ FGEN opened at $0.30 on Friday. The company has a 50-day moving average price of $0.45 and a 200-day moving average price of $0.43. FibroGen has a 52 week low of $0.18 and a 52 week high of $2.33. The firm has a market capitalization of $30.29 million, a P/E ratio of -0.24 and a beta of 0.82.

FibroGen (NASDAQ:FGEN) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $24.91 million. As a group, equities research analysts anticipate that FibroGen will post -0.8 EPS for the current year.

Insiders Place Their Bets

In other FibroGen news, Director James A. Schoeneck purchased 250,000 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of $0.35 per share, for a total transaction of $87,500.00. Following the purchase, the director now owns 323,722 shares of the company’s stock, valued at approximately $113,302.70. This represents a 339.11 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thane Wettig purchased 145,000 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were acquired at an average cost of $0.35 per share, for a total transaction of $50,750.00. Following the completion of the acquisition, the chief executive officer now owns 543,329 shares of the company’s stock, valued at approximately $190,165.15. This trade represents a 36.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On FibroGen

A number of hedge funds have recently made changes to their positions in FGEN. Geode Capital Management LLC lifted its holdings in FibroGen by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,083,521 shares of the biopharmaceutical company’s stock worth $433,000 after purchasing an additional 32,884 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of FibroGen by 430.7% during the third quarter. JPMorgan Chase & Co. now owns 1,673,555 shares of the biopharmaceutical company’s stock valued at $668,000 after buying an additional 1,358,194 shares during the last quarter. FMR LLC lifted its holdings in shares of FibroGen by 21.8% in the third quarter. FMR LLC now owns 383,258 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 68,569 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its position in shares of FibroGen by 100.0% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 200,000 shares of the biopharmaceutical company’s stock worth $106,000 after acquiring an additional 100,000 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in FibroGen by 19.6% during the fourth quarter. Two Sigma Investments LP now owns 604,421 shares of the biopharmaceutical company’s stock valued at $320,000 after acquiring an additional 98,888 shares in the last quarter. 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.