FibroGen (NASDAQ:FGEN) Stock Rating Upgraded by Zacks Investment Research


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FibroGen (NASDAQ:FGEN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks.com reports.

According to Zacks, “FibroGen, Inc. is a research-based biotechnology company. It is focused on the discovery, development, and commercialization of therapeutic agents for treatment of anemia, fibrosis, cancer, and other serious unmet medical needs. The Company develops Roxadustat that is in Phase III clinical development for the treatment of anemia in chronic kidney disease; and FG-3019 which is in Phase II clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, and liver fibrosis. FibroGen, Inc. is headquartered in San Francisco, California. “

A number of other research firms have also weighed in on FGEN. Mizuho reiterated a “neutral” rating and issued a $29.00 target price on shares of FibroGen in a research note on Tuesday, April 13th. Jefferies Financial Group restated a “hold” rating and issued a $45.00 target price (down from $75.00) on shares of FibroGen in a research note on Monday, March 8th. Raymond James reaffirmed a “sell” rating on shares of FibroGen in a research note on Wednesday, April 7th. SVB Leerink dropped their price objective on FibroGen from $64.00 to $56.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 13th. Finally, Bank of America raised FibroGen from a “neutral” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Wednesday, March 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $47.17.

FGEN stock opened at $20.54 on Monday. The firm’s fifty day simple moving average is $26.50 and its two-hundred day simple moving average is $39.02. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -7.87 and a beta of 1.59. FibroGen has a twelve month low of $18.12 and a twelve month high of $57.21.

FibroGen (NASDAQ:FGEN) last posted its quarterly earnings data on Sunday, February 28th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.35). The firm had revenue of $65.00 million during the quarter, compared to analysts’ expectations of $100.82 million. FibroGen had a negative return on equity of 48.19% and a negative net margin of 191.78%. The business’s revenue for the quarter was up 712.5% compared to the same quarter last year. During the same period last year, the company earned ($1.12) earnings per share. Equities research analysts forecast that FibroGen will post -1.72 earnings per share for the current fiscal year.

In other FibroGen news, Director Kalevi Kurkijarvi sold 6,000 shares of the stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $52.40, for a total transaction of $314,400.00. Following the completion of the sale, the director now directly owns 39,100 shares of the company’s stock, valued at $2,048,840. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas F. Kearns, Jr. sold 18,000 shares of the firm’s stock in a transaction dated Thursday, March 11th. The shares were sold at an average price of $35.02, for a total transaction of $630,360.00. Following the completion of the sale, the director now owns 166,164 shares in the company, valued at $5,819,063.28. The disclosure for this sale can be found here. 3.39% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its position in shares of FibroGen by 8.3% during the first quarter. Envestnet Asset Management Inc. now owns 23,009 shares of the biopharmaceutical company’s stock worth $799,000 after purchasing an additional 1,771 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in FibroGen by 10.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,148 shares of the biopharmaceutical company’s stock worth $1,324,000 after acquiring an additional 3,605 shares in the last quarter. Ziegler Capital Management LLC purchased a new stake in shares of FibroGen during the first quarter worth about $609,000. US Bancorp DE increased its holdings in shares of FibroGen by 13.7% during the first quarter. US Bancorp DE now owns 13,583 shares of the biopharmaceutical company’s stock valued at $472,000 after acquiring an additional 1,633 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan raised its position in shares of FibroGen by 66.7% in the 1st quarter. NJ State Employees Deferred Compensation Plan now owns 15,000 shares of the biopharmaceutical company’s stock valued at $521,000 after purchasing an additional 6,000 shares during the last quarter. 75.05% of the stock is currently owned by institutional investors and hedge funds.

About FibroGen

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. The company is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases that is in Phase III clinical development for the treatment of anemia in chronic kidney disease in the United States and Europe; and in Phase II/III development in China for anemia associated with myelodysplastic syndromes.

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