FibroGen, Inc (FGEN) Lowered to Buy at BidaskClub

FibroGen, Inc (NASDAQ:FGEN) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday, July 31st.

A number of other equities analysts also recently issued reports on FGEN. Zacks Investment Research downgraded shares of FibroGen from a “hold” rating to a “sell” rating in a research note on Monday, May 8th. Stifel Nicolaus restated a “buy” rating and issued a $38.00 target price (up from $32.00) on shares of FibroGen in a research note on Thursday, June 22nd. William Blair restated an “outperform” rating on shares of FibroGen in a research note on Monday, June 26th. Citigroup Inc. restated a “buy” rating and issued a $48.00 target price on shares of FibroGen in a research note on Monday, June 26th. Finally, Jefferies Group LLC initiated coverage on shares of FibroGen in a research note on Monday, July 10th. They issued a “buy” rating and a $50.00 target price for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. FibroGen has a consensus rating of “Buy” and a consensus target price of $60.17.

FibroGen (FGEN) traded up 1.34% during mid-day trading on Monday, hitting $41.65. The company had a trading volume of 1,005,368 shares. The stock’s market capitalization is $2.97 billion. FibroGen has a 1-year low of $15.60 and a 1-year high of $51.70. The stock has a 50 day moving average price of $34.92 and a 200-day moving average price of $28.29.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.47) by $0.01. FibroGen had a negative net margin of 105.59% and a negative return on equity of 64.42%. The business had revenue of $29 million for the quarter, compared to the consensus estimate of $34.80 million. On average, analysts forecast that FibroGen will post ($1.82) earnings per share for the current year.

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In other FibroGen news, insider K Peony Yu sold 3,721 shares of FibroGen stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $28.95, for a total value of $107,722.95. Following the completion of the transaction, the insider now owns 221,507 shares of the company’s stock, valued at $6,412,627.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas B. Neff sold 38,636 shares of FibroGen stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $26.21, for a total transaction of $1,012,649.56. Following the completion of the transaction, the chief executive officer now directly owns 3,345,941 shares of the company’s stock, valued at approximately $87,697,113.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 537,474 shares of company stock valued at $19,220,138. 14.90% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in FGEN. SG Americas Securities LLC raised its stake in shares of FibroGen by 6.5% in the second quarter. SG Americas Securities LLC now owns 6,747 shares of the biopharmaceutical company’s stock valued at $218,000 after buying an additional 412 shares during the period. Principal Financial Group Inc. raised its stake in shares of FibroGen by 0.4% in the first quarter. Principal Financial Group Inc. now owns 136,045 shares of the biopharmaceutical company’s stock valued at $3,354,000 after buying an additional 504 shares during the period. Rothschild Asset Management Inc. raised its stake in shares of FibroGen by 0.5% in the first quarter. Rothschild Asset Management Inc. now owns 186,005 shares of the biopharmaceutical company’s stock valued at $4,585,000 after buying an additional 959 shares during the period. OppenheimerFunds Inc. raised its stake in shares of FibroGen by 0.3% in the first quarter. OppenheimerFunds Inc. now owns 356,236 shares of the biopharmaceutical company’s stock valued at $8,781,000 after buying an additional 1,066 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of FibroGen by 3.6% in the second quarter. ProShare Advisors LLC now owns 41,155 shares of the biopharmaceutical company’s stock valued at $1,329,000 after buying an additional 1,416 shares during the period. Institutional investors and hedge funds own 43.45% of the company’s stock.

FibroGen Company Profile

FibroGen, Inc is a science-based biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of therapeutics to treat serious unmet medical needs. Its lead product candidate is roxadustat (FG-4592). It is also engaged in developing products, such as FG-6874, FG-3019 and FG-5200.

Analyst Recommendations for FibroGen (NASDAQ:FGEN)

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