FibroGen (NASDAQ:FGEN) Rating Lowered to Hold at Zacks Investment Research

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Zacks Investment Research cut shares of FibroGen (NASDAQ:FGEN) from a strong-buy rating to a hold rating in a research note released on Thursday morning, Zacks.com reports.

According to Zacks, “FibroGen, Inc. is a research-based biotechnology company. It is focused on the discovery, development, and commercialization of therapeutic agents for treatment of anemia, fibrosis, cancer, and other serious unmet medical needs. The Company develops Roxadustat that is in Phase III clinical development for the treatment of anemia in chronic kidney disease; and FG-3019 which is in Phase II clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, and liver fibrosis. FibroGen, Inc. is headquartered in San Francisco, California. “

Several other research firms have also commented on FGEN. BidaskClub upgraded shares of FibroGen from a sell rating to a hold rating in a research report on Thursday, October 17th. ValuEngine upgraded shares of FibroGen from a hold rating to a buy rating in a research report on Friday, November 8th. Mizuho reiterated a positive rating and issued a $72.00 price target (up from $65.00) on shares of FibroGen in a research report on Monday, November 11th. Finally, TheStreet upgraded shares of FibroGen from a d+ rating to a c rating in a research report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. FibroGen presently has a consensus rating of Buy and an average target price of $58.33.

Shares of FGEN stock traded down $0.12 during trading hours on Thursday, hitting $36.87. The company’s stock had a trading volume of 817,100 shares, compared to its average volume of 736,678. The business has a fifty day moving average of $38.25 and a 200-day moving average of $41.47. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -35.80 and a beta of 1.84. FibroGen has a twelve month low of $32.33 and a twelve month high of $61.23. The company has a current ratio of 9.01, a quick ratio of 9.71 and a debt-to-equity ratio of 0.07.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings results on Monday, November 11th. The biopharmaceutical company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.02. The business had revenue of $33.17 million for the quarter, compared to analyst estimates of $31.61 million. FibroGen had a net margin of 11.81% and a return on equity of 7.33%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.50) earnings per share. On average, equities analysts expect that FibroGen will post -0.16 EPS for the current fiscal year.

In related news, SVP Christine Chung sold 5,625 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $34.74, for a total transaction of $195,412.50. Following the sale, the senior vice president now owns 145,253 shares in the company, valued at $5,046,089.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas B. Neff sold 39,636 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $44.33, for a total transaction of $1,757,063.88. Following the sale, the chief executive officer now owns 2,356,578 shares in the company, valued at approximately $104,467,102.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,381 shares of company stock worth $3,839,495. 7.83% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in FGEN. Captrust Financial Advisors purchased a new position in FibroGen during the second quarter worth approximately $90,000. US Bancorp DE raised its stake in FibroGen by 79.7% during the second quarter. US Bancorp DE now owns 2,172 shares of the biopharmaceutical company’s stock worth $98,000 after purchasing an additional 963 shares during the period. Usca Ria LLC purchased a new position in FibroGen during the third quarter worth approximately $123,000. Convergence Investment Partners LLC purchased a new position in FibroGen during the third quarter worth approximately $137,000. Finally, Nisa Investment Advisors LLC raised its stake in FibroGen by 729.8% during the third quarter. Nisa Investment Advisors LLC now owns 3,900 shares of the biopharmaceutical company’s stock worth $144,000 after purchasing an additional 3,430 shares during the period. Hedge funds and other institutional investors own 69.71% of the company’s stock.

About FibroGen

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. It is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases (HIF-PHs) that is in Phase III clinical development for the treatment of anemia in chronic kidney disease in the United States and Europe; and in Phase II/III development in China for anemia associated with myelodysplastic syndromes.

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