StockNews.com Initiates Coverage on FibroGen (NASDAQ:FGEN)

StockNews.com started coverage on shares of FibroGen (NASDAQ:FGEN) in a research report sent to investors on Thursday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

Separately, William Blair reissued a market perform rating on shares of FibroGen in a research report on Monday, June 3rd.

FibroGen Stock Down 1.8 %

NASDAQ FGEN opened at $0.41 on Thursday. FibroGen has a 52 week low of $0.33 and a 52 week high of $2.93. The firm has a 50 day moving average of $0.58 and a two-hundred day moving average of $1.09. The stock has a market capitalization of $40.65 million, a PE ratio of -0.17 and a beta of 0.69.

FibroGen (NASDAQ:FGEN) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.09. The firm had revenue of $50.64 million for the quarter, compared to analyst estimates of $33.00 million. During the same quarter in the previous year, the firm posted ($0.65) EPS. On average, equities research analysts expect that FibroGen will post -0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Alpine Global Management LLC purchased a new position in FibroGen during the 1st quarter worth $25,000. Delap Wealth Advisory LLC purchased a new position in shares of FibroGen in the 1st quarter valued at approximately $27,000. Acadian Asset Management LLC raised its position in FibroGen by 1.4% during the 1st quarter. Acadian Asset Management LLC now owns 2,503,865 shares of the biopharmaceutical company’s stock worth $5,883,000 after buying an additional 34,937 shares during the last quarter. Sei Investments Co. raised its holdings in FibroGen by 38.4% during the second quarter. Sei Investments Co. now owns 149,342 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 41,442 shares in the last quarter. Finally, Accel Wealth Management acquired a new stake in FibroGen in the first quarter valued at about $103,000. Institutional investors and hedge funds own 72.71% of the company’s stock.

About FibroGen

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. Its lead product candidates are Pamrevlumab, a human monoclonal antibody targeting connective tissue growth factor that is in Phase III clinical development for the treatment of locally advanced pancreatic cancer; and Roxadustat, an oral small molecule inhibitor of hypoxia-inducible factor prolyl hydroxylase activity, which has completed Phase III clinical development for the treatment of anemia in chronic kidney disease in China, Europe, Japan, and other countries, as well as in Phase III clinical development for anemia related with myelodysplastic syndromes.