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

FibroGen (NASDAQ:FGEN)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $10.00 target price on the biopharmaceutical company’s stock.

Separately, StockNews.com initiated coverage on shares of FibroGen in a research report on Friday, March 14th. They set a “hold” rating on the stock.

FibroGen Stock Up 2.8 %

Shares of NASDAQ FGEN opened at $0.36 on Tuesday. The company’s fifty day moving average is $0.50 and its 200-day moving average is $0.43. The stock has a market cap of $36.05 million, a price-to-earnings ratio of -0.29 and a beta of 0.82. FibroGen has a twelve month low of $0.18 and a twelve month high of $2.80.

FibroGen (NASDAQ:FGEN) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $24.91 million. On average, research analysts anticipate that FibroGen will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On FibroGen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FGEN. FMR LLC boosted its stake in FibroGen by 21.8% in the 3rd quarter. FMR LLC now owns 383,258 shares of the biopharmaceutical company’s stock worth $153,000 after purchasing an additional 68,569 shares during the period. Geode Capital Management LLC boosted its stake in 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 purchasing an additional 32,884 shares during the period. JPMorgan Chase & Co. boosted its stake in FibroGen by 430.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,673,555 shares of the biopharmaceutical company’s stock worth $668,000 after purchasing an additional 1,358,194 shares during the period. Franklin Street Advisors Inc. NC boosted its stake in FibroGen by 100.0% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 200,000 shares of the biopharmaceutical company’s stock worth $106,000 after purchasing an additional 100,000 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in FibroGen by 80.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,358,712 shares of the biopharmaceutical company’s stock worth $719,000 after purchasing an additional 605,572 shares during the period. 72.71% of the stock is owned by institutional investors and hedge funds.

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.