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

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

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

FibroGen Trading Up 9.3 %

Shares of FGEN opened at $0.43 on Friday. The stock has a 50 day moving average of $0.36 and a 200 day moving average of $0.65. The company has a market capitalization of $42.83 million, a price-to-earnings ratio of -0.35 and a beta of 0.72. FibroGen has a 12 month low of $0.18 and a 12 month high of $2.93.

FibroGen (NASDAQ:FGEN) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.21. The business had revenue of $46.33 million for the quarter, compared to the consensus estimate of $34.00 million. During the same quarter in the previous year, the firm earned ($0.52) earnings per share. As a group, equities research analysts predict that FibroGen will post -0.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Accel Wealth Management raised its stake in FibroGen by 117.5% in the 2nd quarter. Accel Wealth Management now owns 95,600 shares of the biopharmaceutical company’s stock valued at $85,000 after acquiring an additional 51,645 shares during the period. Franklin Street Advisors Inc. NC purchased a new position in shares of FibroGen in the second quarter worth about $89,000. Acadian Asset Management LLC raised its position in shares of FibroGen by 34.4% in the second quarter. Acadian Asset Management LLC now owns 3,364,719 shares of the biopharmaceutical company’s stock valued at $2,997,000 after purchasing an additional 860,854 shares during the period. Doheny Asset Management CA purchased a new stake in shares of FibroGen during the 2nd quarter valued at approximately $48,000. Finally, XTX Topco Ltd bought a new position in FibroGen in the 2nd quarter worth approximately $424,000. Hedge funds and other institutional investors own 72.71% of the company’s stock.

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.