FibroGen (NASDAQ:FGEN) Upgraded to “Hold” at Zacks Investment Research

FibroGen (NASDAQ:FGENGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday, 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. “

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group lowered their price objective on FibroGen from $10.00 to $9.00 and set a “sell” rating for the company in a research report on Tuesday, March 1st. StockNews.com initiated coverage on FibroGen in a research report on Thursday, March 31st. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.43.

Shares of NASDAQ:FGEN traded up $2.05 during midday trading on Tuesday, reaching $9.99. The company’s stock had a trading volume of 2,709,431 shares, compared to its average volume of 850,870. The firm has a market cap of $929.09 million, a price-to-earnings ratio of -3.18 and a beta of 0.91. FibroGen has a 1 year low of $7.81 and a 1 year high of $30.12. The business has a 50 day moving average price of $11.67 and a 200 day moving average price of $13.04.

FibroGen (NASDAQ:FGENGet Rating) last announced its quarterly earnings data on Monday, May 9th. The biopharmaceutical company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.16. The business had revenue of $60.80 million during the quarter, compared to the consensus estimate of $28.76 million. FibroGen had a negative return on equity of 93.23% and a negative net margin of 123.25%. The business’s revenue for the quarter was up 58.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.78) earnings per share. Analysts expect that FibroGen will post -3.25 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the business. Primecap Management Co. CA grew its position in FibroGen by 1.5% during the fourth quarter. Primecap Management Co. CA now owns 12,989,123 shares of the biopharmaceutical company’s stock valued at $183,147,000 after acquiring an additional 197,366 shares during the period. First Trust Advisors LP lifted its stake in shares of FibroGen by 24.8% during the fourth quarter. First Trust Advisors LP now owns 5,317,613 shares of the biopharmaceutical company’s stock worth $74,978,000 after purchasing an additional 1,055,536 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of FibroGen by 235.9% during the fourth quarter. Point72 Asset Management L.P. now owns 3,732,594 shares of the biopharmaceutical company’s stock worth $52,630,000 after purchasing an additional 2,621,494 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of FibroGen by 29.8% during the fourth quarter. Geode Capital Management LLC now owns 1,625,600 shares of the biopharmaceutical company’s stock worth $22,920,000 after purchasing an additional 373,501 shares in the last quarter. Finally, Soleus Capital Management L.P. acquired a new position in shares of FibroGen during the fourth quarter worth about $21,862,000. 77.35% of the stock is owned by hedge funds and other institutional investors.

FibroGen Company Profile (Get Rating)

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, which has completed Phase III clinical development for the treatment of anemia in chronic kidney disease in the United States, Europe, China, and Japan; and in Phase II/III development in China for anemia associated with myelodysplastic syndromes.

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