StockNews.com Begins Coverage on FibroGen (NASDAQ:FGEN)

Equities research analysts at StockNews.com assumed coverage on shares of FibroGen (NASDAQ:FGEN) in a research note issued on Wednesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently issued reports on the stock. HC Wainwright raised shares of FibroGen to a “strong-buy” rating in a report on Tuesday, December 17th. William Blair reissued a “market perform” rating on shares of FibroGen in a report on Wednesday, November 13th.

FibroGen Stock Down 0.0 %

NASDAQ:FGEN opened at $0.53 on Wednesday. FibroGen has a 52 week low of $0.18 and a 52 week high of $2.93. The stock’s 50-day moving average price is $0.39 and its 200-day moving average price is $0.53. The stock has a market capitalization of $53.34 million, a PE ratio of -0.43 and a beta of 0.82.

FibroGen (NASDAQ:FGEN) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.21. The business had revenue of $46.33 million during the quarter, compared to analyst estimates of $34.00 million. During the same period in the previous year, the business posted ($0.52) earnings per share. Sell-side analysts expect that FibroGen will post -0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FibroGen

Several hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in FibroGen by 430.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,673,555 shares of the biopharmaceutical company’s stock worth $668,000 after purchasing an additional 1,358,194 shares in the last quarter. Geode Capital Management LLC lifted its position in FibroGen by 3.1% during the third quarter. Geode Capital Management LLC now owns 1,083,521 shares of the biopharmaceutical company’s stock worth $433,000 after buying an additional 32,884 shares in the last quarter. FMR LLC lifted its position in FibroGen by 21.8% during the third quarter. FMR LLC now owns 383,258 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 68,569 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in FibroGen during the third quarter worth $307,000. Finally, Point72 DIFC Ltd grew its holdings in FibroGen by 734.2% in the 2nd quarter. Point72 DIFC Ltd now owns 52,254 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 45,990 shares in the last quarter. 72.71% of the stock is owned by hedge funds and other institutional investors.

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.