FibroGen (NASDAQ:FGEN) Lowered to “Sell” at BidaskClub

FibroGen (NASDAQ:FGEN) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday, BidAskClub reports.

FGEN has been the topic of several other research reports. SVB Leerink raised their price target on shares of FibroGen from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Friday, November 6th. ValuEngine upgraded shares of FibroGen from a “hold” rating to a “buy” rating in a research note on Tuesday, December 1st. Raymond James assumed coverage on shares of FibroGen in a research note on Monday, October 26th. They set an “underperform” rating on the stock. Finally, Zacks Investment Research lowered shares of FibroGen from a “buy” rating to a “hold” rating in a research note on Wednesday, November 11th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $58.00.

Shares of NASDAQ:FGEN opened at $37.09 on Thursday. The firm’s 50 day moving average is $41.16 and its two-hundred day moving average is $42.36. FibroGen has a 52 week low of $22.65 and a 52 week high of $51.56. The firm has a market capitalization of $3.38 billion, a P/E ratio of -14.21 and a beta of 1.61.

FibroGen (NASDAQ:FGEN) last announced its quarterly earnings results on Thursday, November 5th. The biopharmaceutical company reported $0.35 EPS for the quarter, beating the consensus estimate of ($0.80) by $1.15. FibroGen had a negative net margin of 191.78% and a negative return on equity of 48.19%. The company had revenue of $44.03 million for the quarter, compared to analyst estimates of $61.49 million. During the same quarter last year, the business earned ($0.57) earnings per share. FibroGen’s revenue was up 32.7% compared to the same quarter last year. Sell-side analysts anticipate that FibroGen will post -1.72 EPS for the current fiscal year.

In other FibroGen news, Director Kalevi Kurkijarvi sold 6,001 shares of FibroGen stock in a transaction that occurred on Monday, December 28th. The shares were sold at an average price of $40.40, for a total value of $242,440.40. Following the transaction, the director now owns 39,100 shares in the company, valued at $1,579,640. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Pat Cotroneo sold 3,068 shares of FibroGen stock in a transaction that occurred on Tuesday, December 15th. The stock was sold at an average price of $43.60, for a total transaction of $133,764.80. Following the completion of the transaction, the chief financial officer now owns 266,144 shares in the company, valued at approximately $11,603,878.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,419 shares of company stock worth $515,599. 3.39% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of FGEN. US Bancorp DE boosted its stake in FibroGen by 10.7% in the 2nd quarter. US Bancorp DE now owns 5,044 shares of the biopharmaceutical company’s stock worth $205,000 after purchasing an additional 488 shares during the period. Macquarie Group Ltd. boosted its stake in FibroGen by 19.6% in the 2nd quarter. Macquarie Group Ltd. now owns 2,302 shares of the biopharmaceutical company’s stock worth $93,000 after purchasing an additional 377 shares during the period. California Public Employees Retirement System boosted its stake in FibroGen by 5.1% in the 2nd quarter. California Public Employees Retirement System now owns 183,768 shares of the biopharmaceutical company’s stock worth $7,448,000 after purchasing an additional 8,958 shares during the period. State of Wisconsin Investment Board boosted its stake in FibroGen by 10.0% in the 2nd quarter. State of Wisconsin Investment Board now owns 133,300 shares of the biopharmaceutical company’s stock worth $5,403,000 after purchasing an additional 12,100 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in FibroGen by 37.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,511,187 shares of the biopharmaceutical company’s stock worth $61,247,000 after purchasing an additional 410,253 shares during the period. 69.80% 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. It is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases that is in Phase III clinical development for the treatment of anemia in chronic kidney disease in the United States and Europe; and in Phase II/III development in China for anemia associated with myelodysplastic syndromes.

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Analyst Recommendations for FibroGen (NASDAQ:FGEN)

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