FibroGen (FGEN) Downgraded by Zacks Investment Research to Hold

FibroGen (NASDAQ:FGEN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

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. “

Several other research firms also recently commented on FGEN. Stifel Nicolaus assumed coverage on shares of FibroGen in a report on Monday, February 11th. They issued a “buy” rating and a $71.00 price objective on the stock. ValuEngine downgraded shares of FibroGen from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 14th. BidaskClub downgraded shares of FibroGen from a “strong-buy” rating to a “buy” rating in a report on Friday, February 22nd. TheStreet upgraded shares of FibroGen from a “d+” rating to a “c-” rating in a report on Friday, March 29th. Finally, Piper Jaffray Companies assumed coverage on shares of FibroGen in a report on Friday, April 12th. They issued a “neutral” rating and a $65.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. FibroGen currently has a consensus rating of “Hold” and an average price target of $68.50.

NASDAQ FGEN traded up $0.38 on Wednesday, hitting $37.84. 1,380,300 shares of the stock were exchanged, compared to its average volume of 763,776. The company has a current ratio of 6.16, a quick ratio of 6.16 and a debt-to-equity ratio of 0.09. FibroGen has a 52 week low of $33.51 and a 52 week high of $68.55. The firm has a market capitalization of $3.03 billion, a P/E ratio of -36.74 and a beta of 1.60.

FibroGen (NASDAQ:FGEN) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.68) by $0.15. FibroGen had a negative net margin of 44.14% and a negative return on equity of 17.71%. The firm had revenue of $23.90 million for the quarter, compared to analyst estimates of $20.44 million. During the same period in the prior year, the firm posted ($0.50) earnings per share. The company’s quarterly revenue was down 25.1% compared to the same quarter last year. On average, research analysts anticipate that FibroGen will post -0.97 EPS for the current fiscal year.

In related news, CEO Thomas B. Neff sold 39,636 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $57.41, for a total value of $2,275,502.76. Following the transaction, the chief executive officer now directly owns 2,658,056 shares in the company, valued at $152,598,994.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Pat Cotroneo sold 14,787 shares of the company’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $60.08, for a total transaction of $888,402.96. Following the completion of the transaction, the senior vice president now owns 267,891 shares in the company, valued at $16,094,891.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 271,427 shares of company stock worth $14,084,728. Corporate insiders own 8.96% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in FGEN. JPMorgan Chase & Co. grew its stake in shares of FibroGen by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 1,158,474 shares of the biopharmaceutical company’s stock valued at $70,378,000 after acquiring an additional 97,070 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of FibroGen by 77.4% in the third quarter. Dimensional Fund Advisors LP now owns 146,815 shares of the biopharmaceutical company’s stock valued at $8,919,000 after acquiring an additional 64,043 shares in the last quarter. Vanguard Group Inc grew its stake in shares of FibroGen by 1.8% in the third quarter. Vanguard Group Inc now owns 6,921,874 shares of the biopharmaceutical company’s stock valued at $420,503,000 after acquiring an additional 125,186 shares in the last quarter. Beacon Financial Group acquired a new position in shares of FibroGen in the fourth quarter valued at about $269,000. Finally, Boston Advisors LLC grew its stake in shares of FibroGen by 350.9% in the fourth quarter. Boston Advisors LLC now owns 19,751 shares of the biopharmaceutical company’s stock valued at $914,000 after acquiring an additional 15,371 shares in the last quarter. Institutional investors and hedge funds own 66.31% of the company’s stock.

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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