FibroGen, Inc (FGEN) Sets New 1-Year High Following Analyst Upgrade

Shares of FibroGen, Inc (NASDAQ:FGEN) reached a new 52-week high on Tuesday after Citigroup raised their price target on the stock from $48.00 to $65.00. Citigroup currently has a top pick rating on the stock. FibroGen traded as high as $49.10 and last traded at $49.00, with a volume of 6,880,330 shares traded. The stock had previously closed at $33.40.

Other analysts have also issued research reports about the company. Stifel Nicolaus reiterated a “buy” rating and issued a $38.00 target price (up previously from $32.00) on shares of FibroGen in a research note on Thursday, June 22nd. Jefferies Group LLC initiated coverage on FibroGen in a research note on Monday, July 10th. They issued a “buy” rating and a $50.00 target price on the stock. BidaskClub lowered FibroGen from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Goldman Sachs Group, Inc. (The) lowered FibroGen from a “buy” rating to a “neutral” rating and set a $31.00 price target on the stock. in a research note on Friday, July 21st. Finally, William Blair restated an “outperform” rating on shares of FibroGen in a research note on Monday, June 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. FibroGen has a consensus rating of “Buy” and an average price target of $60.17.

In other FibroGen news, Director Thomas F. Kearns, Jr. sold 18,000 shares of FibroGen stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $28.71, for a total value of $516,780.00. Following the transaction, the director now owns 156,564 shares in the company, valued at $4,494,952.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas B. Neff sold 38,636 shares of FibroGen stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $26.21, for a total value of $1,012,649.56. Following the completion of the transaction, the chief executive officer now owns 3,345,941 shares in the company, valued at approximately $87,697,113.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 477,938 shares of company stock worth $17,570,645. Insiders own 14.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new position in FibroGen during the second quarter valued at about $128,000. Ameritas Investment Partners Inc. bought a new position in FibroGen during the first quarter valued at about $111,000. SG Americas Securities LLC raised its position in 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. Amalgamated Bank bought a new position in FibroGen during the second quarter valued at about $237,000. Finally, BNP Paribas Arbitrage SA raised its position in FibroGen by 589.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,401 shares of the biopharmaceutical company’s stock valued at $239,000 after buying an additional 6,327 shares during the period. Institutional investors own 43.03% of the company’s stock.

The company’s market cap is $2.92 billion. The stock’s 50-day moving average is $36.29 and its 200-day moving average is $28.95.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $34.80 million. Equities research analysts expect that FibroGen, Inc will post ($1.82) EPS for the current fiscal year.

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About FibroGen

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.

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