FibroGen (FGEN) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of FibroGen (NASDAQ:FGEN) from a buy rating to a hold rating in a report published on Wednesday.

According to Zacks, “FibroGen, Inc. is a research-based biotechnology company. It is focused on the discovery, development, and commercialization of therapeutic agents for treatment of anemia, fibrosis, cancer, and other serious unmet medical needs. The Company develops Roxadustat that is in Phase III clinical development for the treatment of anemia in chronic kidney disease; and FG-3019 which is in Phase II clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, and liver fibrosis. FibroGen, Inc. is headquartered in San Francisco, California. “

Other equities analysts have also recently issued research reports about the company. Leerink Swann set a $84.00 target price on FibroGen and gave the company a buy rating in a report on Monday, October 15th. BidaskClub cut FibroGen from a strong-buy rating to a buy rating in a report on Tuesday, October 9th. ValuEngine cut FibroGen from a strong-buy rating to a buy rating in a report on Monday, September 17th. Citigroup raised FibroGen from a neutral rating to a buy rating and set a $71.00 target price for the company in a report on Tuesday, December 18th. Finally, Mizuho reissued a buy rating and set a $74.00 target price on shares of FibroGen in a report on Monday, December 17th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $70.25.

NASDAQ FGEN opened at $47.68 on Wednesday. The stock has a market capitalization of $4.08 billion, a P/E ratio of -27.56 and a beta of 1.67. FibroGen has a twelve month low of $37.27 and a twelve month high of $68.55. The company has a quick ratio of 6.76, a current ratio of 6.76 and a debt-to-equity ratio of 0.20.

FibroGen (NASDAQ:FGEN) last announced its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.15). FibroGen had a negative net margin of 87.84% and a negative return on equity of 24.59%. The firm had revenue of $29.00 million for the quarter, compared to analyst estimates of $36.48 million. FibroGen’s quarterly revenue was down 28.6% compared to the same quarter last year. As a group, equities research analysts expect that FibroGen will post -1.55 EPS for the current year.

In related news, Director Kalevi Kurkijarvi sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 18th. The stock was sold at an average price of $55.42, for a total value of $221,680.00. Following the completion of the sale, the director now owns 27,700 shares of the company’s stock, valued at $1,535,134. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas B. Neff sold 18,900 shares of the stock in a transaction that occurred on Thursday, October 18th. The shares were sold at an average price of $54.52, for a total value of $1,030,428.00. Following the completion of the sale, the chief executive officer now directly owns 2,710,412 shares of the company’s stock, valued at approximately $147,771,662.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 205,924 shares of company stock valued at $9,021,309. Insiders own 8.96% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. FMR LLC increased its holdings in shares of FibroGen by 6.9% in the third quarter. FMR LLC now owns 8,981,236 shares of the biopharmaceutical company’s stock valued at $545,610,000 after purchasing an additional 576,417 shares during the last quarter. Vanguard Group Inc. grew its position in FibroGen by 1.8% in the third quarter. Vanguard Group Inc. now owns 6,921,874 shares of the biopharmaceutical company’s stock worth $420,503,000 after acquiring an additional 125,186 shares during the period. Vanguard Group Inc grew its position in FibroGen by 1.8% in the third quarter. Vanguard Group Inc now owns 6,921,874 shares of the biopharmaceutical company’s stock worth $420,503,000 after acquiring an additional 125,186 shares during the period. BlackRock Inc. grew its position in FibroGen by 1.9% in the third quarter. BlackRock Inc. now owns 6,301,117 shares of the biopharmaceutical company’s stock worth $382,796,000 after acquiring an additional 118,460 shares during the period. Finally, First Trust Advisors LP grew its position in FibroGen by 37.8% in the third quarter. First Trust Advisors LP now owns 1,652,213 shares of the biopharmaceutical company’s stock worth $100,372,000 after acquiring an additional 453,288 shares during the period. 64.86% of the stock is owned by hedge funds and other institutional investors.

FibroGen Company Profile

FibroGen, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes therapeutic agents to treat serious unmet medical needs. It is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases (HIF-PHs) that is in Phase III clinical development for the treatment of anemia in chronic kidney disease; Pamrevlumab, a human-monoclonal antibody that inhibits the activity of connective tissue growth factor, which is in Phase II clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, liver fibrosis, and Duchenne muscular dystrophy; and FG-5200, a corneal implant medical device for the treatment of corneal blindness resulting from partial thickness corneal damage.

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