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

Equities research analysts at StockNews.com initiated coverage on shares of FibroGen (NASDAQ:FGEN) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently weighed in on FGEN. William Blair reissued a “market perform” rating on shares of FibroGen in a report on Tuesday, April 1st. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of FibroGen in a report on Tuesday, March 18th.

FibroGen Stock Down 7.7 %

Shares of FGEN opened at $0.25 on Monday. The firm has a market cap of $25.45 million, a price-to-earnings ratio of -0.21 and a beta of 0.87. FibroGen has a 12 month low of $0.18 and a 12 month high of $1.74. The company’s fifty day moving average is $0.42 and its 200-day moving average is $0.42.

FibroGen (NASDAQ:FGEN) last issued its quarterly earnings results on Monday, March 17th. The biopharmaceutical company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $3.14 million during the quarter, compared to the consensus estimate of $24.91 million. As a group, research analysts predict that FibroGen will post -0.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On FibroGen

A number of institutional investors have recently made changes to their positions in FGEN. FMR LLC raised its holdings in 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 purchasing an additional 68,569 shares during the period. Geode Capital Management LLC raised its stake in FibroGen by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,083,521 shares of the biopharmaceutical company’s stock worth $433,000 after buying an additional 32,884 shares during the period. JPMorgan Chase & Co. lifted its holdings in FibroGen by 430.7% during the third quarter. JPMorgan Chase & Co. now owns 1,673,555 shares of the biopharmaceutical company’s stock worth $668,000 after acquiring an additional 1,358,194 shares in the last quarter. Franklin Street Advisors Inc. NC grew its stake in FibroGen by 100.0% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 200,000 shares of the biopharmaceutical company’s stock valued at $106,000 after acquiring an additional 100,000 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of FibroGen by 80.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,358,712 shares of the biopharmaceutical company’s stock worth $719,000 after acquiring an additional 605,572 shares in the last quarter. 72.71% of the stock is owned by institutional investors and hedge funds.

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.