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

StockNews.com initiated coverage on shares of FibroGen (NASDAQ:FGEN) in a report issued on Sunday morning. The brokerage issued 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 Price Performance

NASDAQ FGEN opened at $0.31 on Friday. The company has a market capitalization of $31.67 million, a price-to-earnings ratio of -0.26 and a beta of 0.82. FibroGen has a 12 month low of $0.18 and a 12 month high of $2.40. The company’s fifty day moving average price is $0.46 and its two-hundred day moving average price is $0.43.

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

Insiders Place Their Bets

In related news, CEO Thane Wettig acquired 145,000 shares of FibroGen stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average price of $0.35 per share, for a total transaction of $50,750.00. Following the transaction, the chief executive officer now directly owns 543,329 shares of the company’s stock, valued at $190,165.15. This trade represents a 36.40 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James A. Schoeneck acquired 250,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average price of $0.35 per share, with a total value of $87,500.00. Following the completion of the purchase, the director now owns 323,722 shares in the company, valued at $113,302.70. The trade was a 339.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FibroGen

Several hedge funds and other institutional investors have recently modified their holdings of the company. Two Sigma Securities LLC acquired a new stake in shares of FibroGen in the 4th quarter worth about $27,000. Velan Capital Investment Management LP acquired a new stake in shares of FibroGen in the fourth quarter valued at approximately $42,000. XTX Topco Ltd increased its stake in shares of FibroGen by 423.8% in the fourth quarter. XTX Topco Ltd now owns 96,025 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 77,693 shares during the period. Franklin Street Advisors Inc. NC raised its holdings in shares of FibroGen by 100.0% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 200,000 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 100,000 shares during the last quarter. Finally, FMR LLC boosted its position in shares of FibroGen by 21.8% during the third quarter. FMR LLC now owns 383,258 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 68,569 shares during the period. 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.