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

Equities researchers at StockNews.com initiated coverage on shares of FibroGen (NASDAQ:FGEN) in a report released on Wednesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

FibroGen Price Performance

Shares of FibroGen stock opened at $0.31 on Wednesday. The business’s 50 day simple moving average is $0.37 and its two-hundred day simple moving average is $0.74. The stock has a market capitalization of $31.41 million, a P/E ratio of -0.18 and a beta of 0.72. FibroGen has a one year low of $0.29 and a one year high of $2.93.

FibroGen (NASDAQ:FGEN) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.09. The business had revenue of $50.64 million for the quarter, compared to analysts’ expectations of $33.00 million. During the same period last year, the firm posted ($0.65) earnings per share. Sell-side analysts expect that FibroGen will post -0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FibroGen

Hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC increased its stake in shares of FibroGen by 3,906.9% during the second quarter. Cubist Systematic Strategies LLC now owns 287,332 shares of the biopharmaceutical company’s stock valued at $256,000 after buying an additional 280,161 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of FibroGen during the first quarter valued at approximately $131,000. Acadian Asset Management LLC increased its stake in shares of FibroGen by 1.4% during the first quarter. Acadian Asset Management LLC now owns 2,503,865 shares of the biopharmaceutical company’s stock valued at $5,883,000 after buying an additional 34,937 shares during the period. Point72 DIFC Ltd increased its stake in shares of FibroGen by 734.2% during the second 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 during the period. Finally, XTX Topco Ltd bought a new stake in shares of FibroGen during the second quarter valued at approximately $424,000. 72.71% of the stock is owned by hedge funds and other institutional investors.

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.