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

by · The Markets Daily

StockNews.com started coverage on shares of FibroGen (NASDAQ:FGEN – Free Report) in a research note published on Friday. The firm issued a hold rating on the biopharmaceutical company’s stock.

Separately, William Blair reissued a market perform rating on shares of FibroGen in a report on Monday, June 3rd.

Get Our Latest Research Report on FibroGen

FibroGen Stock Performance

NASDAQ FGEN opened at $0.41 on Friday. The firm’s fifty day moving average price is $0.51 and its two-hundred day moving average price is $1.05. The stock has a market cap of $40.43 million, a PE ratio of -0.17 and a beta of 0.69. FibroGen has a fifty-two week low of $0.33 and a fifty-two week high of $2.93.

FibroGen (NASDAQ:FGEN – Get Free Report) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.09. The firm had revenue of $50.64 million during the quarter, compared to analyst estimates of $33.00 million. During the same period in the previous year, the company earned ($0.65) EPS. As a group, sell-side analysts predict that FibroGen will post -0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FibroGen

Large investors have recently modified their holdings of the company. Armistice Capital LLC raised its position in shares of FibroGen by 23.7% in the 4th quarter. Armistice Capital LLC now owns 9,764,000 shares of the biopharmaceutical company’s stock worth $8,654,000 after acquiring an additional 1,872,000 shares in the last quarter. Acadian Asset Management LLC increased its holdings in FibroGen by 34.4% in the second quarter. Acadian Asset Management LLC now owns 3,364,719 shares of the biopharmaceutical company’s stock worth $2,997,000 after purchasing an additional 860,854 shares in the last quarter. AQR Capital Management LLC lifted its stake in 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 buying an additional 769,586 shares during the period. Pennant Investors LP bought a new position in shares of FibroGen during the 4th quarter worth approximately $681,000. Finally, XTX Topco Ltd acquired a new stake in shares of FibroGen during the 2nd quarter worth approximately $424,000. 72.71% of the stock is currently owned by institutional investors and hedge funds.

FibroGen Company Profile

(Get Free Report)

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.

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