FibroGen (NASDAQ:FGEN) Coverage Initiated at StockNews.com

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

Separately, William Blair reissued a “market perform” rating on shares of FibroGen in a report on Monday, June 3rd.

FibroGen Stock Performance

NASDAQ:FGEN opened at $0.42 on Wednesday. The stock has a market capitalization of $42.11 million, a PE ratio of -0.17 and a beta of 0.69. FibroGen has a fifty-two week low of $0.33 and a fifty-two week high of $2.93. The company has a fifty day moving average of $0.64 and a two-hundred day moving average of $1.17.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping the consensus estimate 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 last year, the company earned ($0.65) EPS. Research analysts forecast that FibroGen will post -0.91 earnings per share for the current year.

Institutional Investors Weigh In On FibroGen

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Armistice Capital LLC raised its position in shares of FibroGen by 23.7% in the fourth quarter. Armistice Capital LLC now owns 9,764,000 shares of the biopharmaceutical company’s stock valued at $8,654,000 after buying an additional 1,872,000 shares during the last quarter. Acadian Asset Management LLC grew its stake in FibroGen by 34.4% during the 2nd quarter. Acadian Asset Management LLC now owns 3,364,719 shares of the biopharmaceutical company’s stock valued at $2,997,000 after acquiring an additional 860,854 shares in the last quarter. AQR Capital Management LLC raised its holdings in FibroGen by 139.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,320,866 shares of the biopharmaceutical company’s stock valued at $1,179,000 after acquiring an additional 769,586 shares during the last quarter. Pennant Investors LP purchased a new position in FibroGen in the 4th quarter worth approximately $681,000. Finally, XTX Topco Ltd acquired a new position in shares of FibroGen during the 2nd quarter worth approximately $424,000. Institutional investors and hedge funds own 72.71% of the company’s stock.

FibroGen Company Profile

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.