FibroGen (NASDAQ:FGEN) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of FibroGen (NASDAQ:FGEN) in a research note published on Wednesday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

Separately, William Blair reaffirmed a market perform rating on shares of FibroGen in a research report on Monday, June 3rd.

FibroGen Stock Up 11.0 %

FibroGen stock opened at $0.47 on Wednesday. The company’s fifty day simple moving average is $0.63 and its 200-day simple moving average is $1.15. FibroGen has a 12 month low of $0.33 and a 12 month high of $2.93. The stock has a market cap of $47.19 million, a P/E ratio of -0.19 and a beta of 0.69.

FibroGen (NASDAQ:FGEN) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.09. The business had revenue of $50.64 million during the quarter, compared to the consensus estimate of $33.00 million. During the same quarter in the prior year, the company posted ($0.65) earnings per share. On average, equities research analysts expect that FibroGen will post -0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FibroGen

Hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of FibroGen in the first quarter valued at about $131,000. Pennant Investors LP bought a new stake in shares of FibroGen in the fourth quarter valued at about $681,000. Acadian Asset Management LLC lifted its stake in FibroGen by 1.4% during the first quarter. Acadian Asset Management LLC now owns 2,503,865 shares of the biopharmaceutical company’s stock worth $5,883,000 after purchasing an additional 34,937 shares during the period. Accel Wealth Management bought a new position in FibroGen during the first quarter worth about $103,000. Finally, Armistice Capital LLC lifted its stake in FibroGen by 23.7% during the fourth quarter. Armistice Capital LLC now owns 9,764,000 shares of the biopharmaceutical company’s stock worth $8,654,000 after purchasing an additional 1,872,000 shares during the period. 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.