FibroGen (FGEN) Receives Hold Rating from Mizuho

Mizuho reissued their hold rating on shares of FibroGen (NASDAQ:FGEN) in a research report sent to investors on Thursday, November 9th. Mizuho currently has a $61.00 price objective on the biopharmaceutical company’s stock.

“We believe Fibrogen is fairly priced. KeyPoints Earnings. For 3Q17, Fibrogen’s financials missed street estimates on reported revenue of $27.3 mil vs. consensus of $39.7 mil and missed on reported EPS of $(0.50) vs. consensus of $(0.37). License and milestone revenue recognized in the quarter appeared lower than expectations. R&D and SG&A expenses were approximately in-line with our prior projections. For 4Q17, Fibrogen expects to recognize a $15 mil milestone from AstraZeneca (AZN, not rated) related to roxadustat’s NDA filing in October 2017 in China. Quarterly earnings are usually not a driver for development stage companies like Fibrogen. In our opinion, news flow related to the pipeline development are more likely to be a catalyst. Progress for pamrevlumab in IPF. During the quarter Fibrogen reported positive topline results from their phase II trial for pamrevlumab in moderate- to-severe idiopathic pulmonary fibrosis (IPF) patients.”,” Mizuho’s analyst wrote.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus reissued a buy rating and issued a $80.00 price target on shares of FibroGen in a research note on Thursday, September 14th. Jefferies Group reaffirmed a buy rating and set a $75.00 target price on shares of FibroGen in a research note on Tuesday, September 12th. BidaskClub downgraded shares of FibroGen from a strong-buy rating to a buy rating in a research note on Monday, July 31st. Goldman Sachs Group downgraded shares of FibroGen from a buy rating to a neutral rating and set a $31.00 target price on the stock. in a research note on Friday, July 21st. Finally, William Blair reaffirmed an outperform rating on shares of FibroGen in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $65.67.

FibroGen (FGEN) opened at $47.30 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 10.83 and a current ratio of 10.83. FibroGen has a 52 week low of $19.25 and a 52 week high of $60.15.

In other FibroGen news, CEO Thomas B. Neff sold 38,636 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $51.67, for a total transaction of $1,996,322.12. Following the completion of the transaction, the chief executive officer now owns 3,297,655 shares in the company, valued at approximately $170,389,833.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas F. Kearns, Jr. sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $45.22, for a total transaction of $813,960.00. Following the transaction, the director now owns 156,564 shares of the company’s stock, valued at approximately $7,079,824.08. The disclosure for this sale can be found here. Insiders sold a total of 399,982 shares of company stock worth $21,251,682 over the last three months. Insiders own 13.60% of the company’s stock.

Several institutional investors have recently modified their holdings of FGEN. UBS Asset Management Americas Inc. purchased a new stake in FibroGen in the 1st quarter valued at $288,000. Parametric Portfolio Associates LLC purchased a new stake in FibroGen in the 1st quarter valued at $249,000. Principal Financial Group Inc. raised its position in FibroGen by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 136,045 shares of the biopharmaceutical company’s stock valued at $3,354,000 after purchasing an additional 504 shares during the last quarter. Wellington Management Group LLP raised its position in FibroGen by 55.6% in the 1st quarter. Wellington Management Group LLP now owns 87,031 shares of the biopharmaceutical company’s stock valued at $2,146,000 after purchasing an additional 31,105 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in FibroGen by 1.4% in the 1st quarter. Teachers Advisors LLC now owns 468,413 shares of the biopharmaceutical company’s stock valued at $11,546,000 after purchasing an additional 6,512 shares during the last quarter. Institutional investors and hedge funds own 57.42% of the company’s stock.

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About FibroGen

FibroGen, Inc is a science-based biopharmaceutical company discovering and developing a pipeline of first- in-class therapeutics. The Company is focused on fibrosis and hypoxia-inducible factor (HIF) biology and clinical development to advance innovative medicines for the treatment of anemia, fibrotic disease, and cancer.

Analyst Recommendations for FibroGen (NASDAQ:FGEN)

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