FibroGen (NASDAQ:FGEN) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of FibroGen (NASDAQ:FGEN) from a hold rating to a sell rating in a report released on Wednesday, 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. “

Separately, The Goldman Sachs Group lowered FibroGen from a neutral rating to a sell rating and reduced their price objective for the company from $16.00 to $11.00 in a research note on Wednesday, September 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $27.56.

NASDAQ:FGEN opened at $14.34 on Wednesday. The stock’s 50-day simple moving average is $13.58 and its 200 day simple moving average is $13.72. FibroGen has a twelve month low of $9.88 and a twelve month high of $57.21.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings data on Tuesday, November 9th. The biopharmaceutical company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.45. The business had revenue of $155.97 million for the quarter, compared to analyst estimates of $135.33 million. FibroGen had a negative return on equity of 58.92% and a negative net margin of 75.62%. During the same period last year, the firm posted $0.35 earnings per share. Equities analysts predict that FibroGen will post -2.37 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of FGEN. Advisory Services Network LLC acquired a new position in shares of FibroGen in the second quarter worth approximately $53,000. Point72 Hong Kong Ltd acquired a new position in shares of FibroGen in the third quarter worth approximately $65,000. Royal Bank of Canada lifted its stake in shares of FibroGen by 20.6% in the third quarter. Royal Bank of Canada now owns 7,451 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 1,271 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of FibroGen in the third quarter worth approximately $111,000. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of FibroGen by 66.8% in the second quarter. O Shaughnessy Asset Management LLC now owns 4,385 shares of the biopharmaceutical company’s stock worth $117,000 after acquiring an additional 1,756 shares during the period. 68.46% of the stock is currently owned by institutional investors.

FibroGen Company Profile

FibroGen, Inc is a biopharmaceutical company, which engages in the discovery, development, and commercialization of novel therapeutics. It focuses on the hypoxia-inducible factor and connective tissue growth factor biology to develop medicines for the treatment of anemia, fibrotic disease, and cancer.

Featured Article: What is a management fee?

Get a free copy of the Zacks research report on FibroGen (FGEN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for FibroGen (NASDAQ:FGEN)

Receive News & Ratings for FibroGen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FibroGen and related companies with MarketBeat.com's FREE daily email newsletter.