HC Wainwright Reiterates Neutral Rating for FibroGen (NASDAQ:FGEN)

FibroGen (NASDAQ:FGEN)‘s stock had its “neutral” rating reaffirmed by HC Wainwright in a report released on Tuesday, Benzinga reports.

A number of other research firms also recently issued reports on FGEN. Jefferies Financial Group restated a “hold” rating and issued a $45.00 price target (down from $75.00) on shares of FibroGen in a research note on Monday, March 8th. SVB Leerink dropped their price target on shares of FibroGen from $64.00 to $56.00 and set an “outperform” rating for the company in a research report on Tuesday. Raymond James reiterated a “sell” rating on shares of FibroGen in a research report on Wednesday, April 7th. Mizuho reiterated a “neutral” rating and issued a $29.00 price target on shares of FibroGen in a report on Tuesday. Finally, Bank of America raised FibroGen from a “neutral” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Wednesday, March 31st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $46.14.

Shares of FibroGen stock opened at $19.26 on Tuesday. FibroGen has a 12-month low of $18.12 and a 12-month high of $57.21. The company has a market cap of $1.76 billion, a P/E ratio of -7.38 and a beta of 1.59. The company’s fifty day simple moving average is $34.28 and its two-hundred day simple moving average is $41.39.

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

In other news, Director Kalevi Kurkijarvi sold 6,000 shares of FibroGen stock in a transaction on Wednesday, February 17th. The stock was sold at an average price of $52.40, for a total transaction of $314,400.00. Following the transaction, the director now owns 39,100 shares in the company, valued at approximately $2,048,840. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas F. Kearns, Jr. sold 18,000 shares of FibroGen stock in a transaction dated Thursday, March 11th. The stock was sold at an average price of $35.02, for a total transaction of $630,360.00. Following the transaction, the director now directly owns 166,164 shares in the company, valued at $5,819,063.28. The disclosure for this sale can be found here. Insiders have sold a total of 30,000 shares of company stock worth $1,205,040 over the last 90 days. Insiders own 3.39% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Primecap Management Co. CA lifted its holdings in FibroGen by 30.3% during the 4th quarter. Primecap Management Co. CA now owns 9,228,020 shares of the biopharmaceutical company’s stock worth $342,267,000 after buying an additional 2,143,987 shares in the last quarter. Norges Bank acquired a new position in shares of FibroGen in the 4th quarter valued at $26,616,000. Vantage Consulting Group Inc acquired a new position in FibroGen in the fourth quarter valued at $22,465,000. BlackRock Inc. boosted its position in shares of FibroGen by 4.8% in the 4th quarter. BlackRock Inc. now owns 7,897,602 shares of the biopharmaceutical company’s stock valued at $292,923,000 after purchasing an additional 364,552 shares during the period. Finally, Morgan Stanley grew its position in shares of FibroGen by 219.4% during the fourth quarter. Morgan Stanley now owns 389,353 shares of the biopharmaceutical company’s stock worth $14,441,000 after acquiring an additional 267,470 shares during the last quarter. Hedge funds and other institutional investors own 75.05% of the company’s stock.

FibroGen Company Profile

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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