FibroGen (FGEN) Earns Neutral Rating from Analysts at Piper Jaffray Companies

Piper Jaffray Companies began coverage on shares of FibroGen (NASDAQ:FGEN) in a report released on Friday, Benzinga reports. The firm issued a neutral rating and a $65.00 target price on the biopharmaceutical company’s stock.

A number of other equities research analysts have also weighed in on FGEN. Mizuho restated a buy rating and set a $74.00 price objective on shares of FibroGen in a research note on Monday, December 17th. Citigroup upgraded FibroGen from a neutral rating to a buy rating and set a $71.00 price objective for the company in a research note on Tuesday, December 18th. BidaskClub raised FibroGen from a hold rating to a buy rating in a report on Saturday, December 22nd. Zacks Investment Research raised FibroGen from a hold rating to a buy rating and set a $52.00 target price on the stock in a report on Tuesday, January 8th. Finally, Stifel Nicolaus began coverage on FibroGen in a report on Monday, February 11th. They set a buy rating and a $71.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. FibroGen has a consensus rating of Buy and an average target price of $71.17.

Shares of NASDAQ FGEN opened at $48.76 on Friday. FibroGen has a fifty-two week low of $37.27 and a fifty-two week high of $68.55. The company has a quick ratio of 7.75, a current ratio of 7.75 and a debt-to-equity ratio of 0.18. The company has a market cap of $4.51 billion, a price-to-earnings ratio of -47.34 and a beta of 1.72.

FibroGen (NASDAQ:FGEN) last issued its quarterly earnings data on Wednesday, February 27th. The biopharmaceutical company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.40. FibroGen had a negative return on equity of 16.84% and a negative net margin of 40.58%. The firm had revenue of $108.05 million during the quarter, compared to analyst estimates of $72.15 million. During the same quarter last year, the firm earned ($0.27) EPS. FibroGen’s quarterly revenue was up 251.5% on a year-over-year basis. Equities analysts expect that FibroGen will post -0.91 earnings per share for the current fiscal year.

In other FibroGen news, CEO Thomas B. Neff sold 39,636 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $57.41, for a total transaction of $2,275,502.76. Following the transaction, the chief executive officer now owns 2,658,056 shares of the company’s stock, valued at approximately $152,598,994.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Pat Cotroneo sold 14,787 shares of the stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $60.08, for a total value of $888,402.96. Following the transaction, the senior vice president now directly owns 267,891 shares in the company, valued at approximately $16,094,891.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 306,321 shares of company stock worth $16,929,604. 8.96% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. lifted its holdings in shares of FibroGen by 622.4% in the 4th quarter. Meeder Asset Management Inc. now owns 614 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 529 shares during the last quarter. Intercontinental Wealth Advisors LLC bought a new stake in shares of FibroGen in the 4th quarter worth approximately $37,000. Flinton Capital Management LLC bought a new stake in shares of FibroGen in the 4th quarter worth approximately $44,000. Neuburgh Advisers LLC bought a new stake in shares of FibroGen in the 4th quarter worth approximately $53,000. Finally, Bank of Montreal Can lifted its holdings in shares of FibroGen by 177.3% in the 4th quarter. Bank of Montreal Can now owns 1,722 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 1,101 shares during the last quarter. 66.58% of the stock is currently owned by institutional investors and hedge funds.

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 (HIF-PHs) 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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