FibroGen’s (FGEN) Buy Rating Reaffirmed at HC Wainwright

FibroGen (NASDAQ:FGEN)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $10.00 target price on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on FGEN. William Blair restated a “market perform” rating on shares of FibroGen in a research note on Tuesday, April 1st. StockNews.com began coverage on FibroGen in a research note on Friday. They set a “hold” rating for the company.

FibroGen Stock Performance

Shares of FibroGen stock opened at $0.31 on Tuesday. FibroGen has a one year low of $0.18 and a one year high of $1.53. The company has a market cap of $30.86 million, a PE ratio of -0.25 and a beta of 0.86. The business has a 50-day simple moving average of $0.32 and a 200-day simple moving average of $0.41.

FibroGen (NASDAQ:FGEN) last posted its earnings results on Monday, March 17th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $3.14 million for the quarter, compared to analysts’ expectations of $24.91 million. On average, sell-side analysts predict that FibroGen will post -0.8 earnings per share for the current fiscal year.

Insider Buying and Selling at FibroGen

In related news, Director James A. Schoeneck bought 250,000 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were acquired at an average price of $0.35 per share, with a total value of $87,500.00. Following the completion of the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thane Wettig bought 145,000 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was bought at an average cost of $0.35 per share, for a total transaction of $50,750.00. Following 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 position. The disclosure for this purchase can be found here. 3.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Two Sigma Securities LLC acquired a new position in shares of FibroGen in the fourth quarter valued at approximately $27,000. Velan Capital Investment Management LP purchased a new position in FibroGen in the fourth quarter worth $42,000. XTX Topco Ltd raised its position in FibroGen by 423.8% in the fourth quarter. XTX Topco Ltd now owns 96,025 shares of the biopharmaceutical company’s stock worth $51,000 after acquiring an additional 77,693 shares in the last quarter. Squarepoint Ops LLC purchased a new position in FibroGen in the fourth quarter worth $205,000. Finally, HighTower Advisors LLC grew its holdings in FibroGen by 292.8% in the first quarter. HighTower Advisors LLC now owns 404,488 shares of the biopharmaceutical company’s stock valued at $125,000 after purchasing an additional 301,500 shares during the last quarter. Institutional investors and hedge funds own 72.71% of the company’s stock.

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.