FibroGen (NASDAQ:FGEN) Price Target Lowered to $56.00 at SVB Leerink

FibroGen (NASDAQ:FGEN) had its price target decreased by SVB Leerink from $64.00 to $56.00 in a research report released on Wednesday, Stock Target Advisor reports. SVB Leerink currently has an outperform rating on the biopharmaceutical company’s stock.

Several other brokerages also recently weighed in on FGEN. Raymond James restated a sell rating on shares of FibroGen in a research note on Wednesday. Mizuho downgraded FibroGen from a buy rating to a neutral rating and decreased their price target for the stock from $72.00 to $29.00 in a research note on Wednesday. HC Wainwright downgraded FibroGen from a buy rating to a neutral rating in a research note on Wednesday. Bank of America upgraded FibroGen from a neutral rating to a buy rating and set a $47.00 price target for the company in a research note on Wednesday, March 31st. Finally, Zacks Investment Research downgraded FibroGen from a hold rating to a sell rating in a research note on Monday, February 22nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $46.14.

Shares of FibroGen stock opened at $19.74 on Wednesday. The business has a 50-day moving average of $38.93 and a 200-day moving average of $42.24. The company has a market capitalization of $1.81 billion, a PE ratio of -7.56 and a beta of 1.59. FibroGen has a 1-year low of $19.71 and a 1-year high of $57.21.

FibroGen (NASDAQ:FGEN) last announced its earnings results on Sunday, February 28th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.35). The business had revenue of $65.00 million for the quarter, compared to analyst estimates of $100.82 million. FibroGen had a negative net margin of 191.78% and a negative return on equity of 48.19%. The firm’s revenue was up 712.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.12) earnings per share. As a group, sell-side analysts expect that FibroGen will post -1.72 earnings per share for the current year.

In other news, Director Kalevi Kurkijarvi sold 6,000 shares of FibroGen stock in a transaction that occurred on Tuesday, January 19th. The stock was sold at an average price of $43.38, for a total transaction of $260,280.00. Following the sale, the director now owns 39,100 shares of the company’s stock, valued at $1,696,158. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas F. Kearns, Jr. sold 18,000 shares of FibroGen stock in a transaction that occurred on Thursday, March 11th. The shares were sold at an average price of $35.02, for a total value of $630,360.00. Following the sale, the director now directly owns 166,164 shares in the company, valued at approximately $5,819,063.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,999 shares of company stock worth $1,445,240. Corporate insiders own 3.39% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Perigon Wealth Management LLC bought a new stake in FibroGen during the fourth quarter worth approximately $46,000. Fieldpoint Private Securities LLC bought a new stake in FibroGen during the fourth quarter worth approximately $65,000. Penserra Capital Management LLC raised its holdings in FibroGen by 170.1% during the fourth quarter. Penserra Capital Management LLC now owns 2,085 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 1,313 shares in the last quarter. Sowell Financial Services LLC raised its holdings in FibroGen by 895.0% during the fourth quarter. Sowell Financial Services LLC now owns 2,806 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 2,524 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in FibroGen by 17.3% during the fourth quarter. Pacer Advisors Inc. now owns 3,228 shares of the biopharmaceutical company’s stock worth $120,000 after purchasing an additional 476 shares in the last quarter. 75.05% of the stock is currently owned by institutional investors.

About FibroGen

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. The company 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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