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

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

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

FibroGen Stock Down 1.8 %

Shares of FGEN opened at $0.41 on Thursday. FibroGen has a 52-week low of $0.33 and a 52-week high of $2.93. The company has a 50-day simple moving average of $0.58 and a 200-day simple moving average of $1.09. The company has a market capitalization of $40.65 million, a PE ratio of -0.17 and a beta of 0.69.

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

Hedge Funds Weigh In On FibroGen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alpine Global Management LLC acquired a new position in shares of FibroGen in the first quarter worth $25,000. Delap Wealth Advisory LLC purchased a new stake in FibroGen during the 1st quarter worth about $27,000. Point72 DIFC Ltd raised its stake 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 purchasing an additional 45,990 shares during the last quarter. Doheny Asset Management CA purchased a new position in FibroGen in the 2nd quarter valued at about $48,000. Finally, Accel Wealth Management boosted its stake in shares of FibroGen by 117.5% during the 2nd quarter. Accel Wealth Management now owns 95,600 shares of the biopharmaceutical company’s stock worth $85,000 after purchasing an additional 51,645 shares during the last quarter. Institutional investors and hedge funds 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.