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

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

Separately, William Blair reissued a “market perform” rating on shares of FibroGen in a research report on Wednesday, November 13th.

FibroGen Stock Down 1.4 %

FGEN stock opened at $0.39 on Friday. The firm has a market capitalization of $39.30 million, a PE ratio of -0.32 and a beta of 0.72. FibroGen has a twelve month low of $0.18 and a twelve month high of $2.93. The stock’s 50 day moving average is $0.36 and its 200-day moving average is $0.67.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.21. The company had revenue of $46.33 million during the quarter, compared to analysts’ expectations of $34.00 million. During the same period in the previous year, the company posted ($0.52) earnings per share. On average, equities research analysts anticipate that FibroGen will post -0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FibroGen

Several institutional investors have recently modified their holdings of FGEN. Acadian Asset Management LLC boosted its position 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 during the last quarter. AQR Capital Management LLC raised its stake in shares of FibroGen by 139.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,320,866 shares of the biopharmaceutical company’s stock worth $1,179,000 after purchasing an additional 769,586 shares during the period. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 32,884 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in FibroGen during the third quarter worth about $307,000. Finally, XTX Topco Ltd bought a new stake in FibroGen in the second quarter worth about $424,000. 72.71% of the stock is owned by institutional investors.

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.