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

Equities researchers at StockNews.com began coverage on shares of FibroGen (NASDAQ:FGEN) in a report released on Saturday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of FibroGen in a report on Tuesday, March 18th.

FibroGen Stock Down 6.4 %

Shares of FGEN stock opened at $0.32 on Friday. The business has a 50-day moving average price of $0.49 and a two-hundred day moving average price of $0.43. FibroGen has a 12-month low of $0.18 and a 12-month high of $2.80. The firm has a market cap of $31.79 million, a P/E ratio of -0.26 and a beta of 0.82.

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

Hedge Funds Weigh In On FibroGen

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp boosted its stake in shares of FibroGen by 416.6% during the fourth quarter. Mackenzie Financial Corp now owns 546,959 shares of the biopharmaceutical company’s stock valued at $290,000 after purchasing an additional 441,083 shares during the period. Velan Capital Investment Management LP bought a new stake in FibroGen in the 4th quarter worth $42,000. Squarepoint Ops LLC purchased a new position in shares of FibroGen in the fourth quarter valued at about $205,000. Two Sigma Investments LP raised its stake in shares of FibroGen by 19.6% during the fourth quarter. Two Sigma Investments LP now owns 604,421 shares of the biopharmaceutical company’s stock valued at $320,000 after acquiring an additional 98,888 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of FibroGen by 18.3% during the fourth quarter. Two Sigma Advisers LP now owns 878,400 shares of the biopharmaceutical company’s stock worth $465,000 after purchasing an additional 135,600 shares during the period. 72.71% of the stock is currently 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.