FibroGen (NASDAQ:FGEN) Stock Crosses Above 50-Day Moving Average – What’s Next?

FibroGen, Inc (NASDAQ:FGEN) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $10.23 and traded as high as $12.45. FibroGen shares last traded at $12.25, with a volume of 12,059 shares.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FGEN shares. Wall Street Zen raised shares of FibroGen from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. HC Wainwright reissued a “buy” rating and set a $43.00 target price on shares of FibroGen in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

FibroGen Price Performance

The firm has a market capitalization of $49.49 million, a price-to-earnings ratio of -32.24 and a beta of 0.76. The business’s fifty day simple moving average is $10.23 and its 200 day simple moving average is $8.33.

FibroGen (NASDAQ:FGEN) last posted its quarterly earnings results on Monday, August 11th. The biopharmaceutical company reported ($3.38) EPS for the quarter, missing analysts’ consensus estimates of ($2.25) by ($1.13). The business had revenue of $1.30 million for the quarter, compared to analyst estimates of $2.88 million. Equities research analysts expect that FibroGen, Inc will post -0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FibroGen

A number of large investors have recently bought and sold shares of the stock. Armistice Capital LLC grew its holdings in shares of FibroGen by 25.0% during the first quarter. Armistice Capital LLC now owns 8,500,000 shares of the biopharmaceutical company’s stock valued at $2,634,000 after buying an additional 1,700,000 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of FibroGen by 416.6% during the fourth quarter. Mackenzie Financial Corp now owns 546,959 shares of the biopharmaceutical company’s stock valued at $290,000 after buying an additional 441,083 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of FibroGen during the fourth quarter valued at about $205,000. HighTower Advisors LLC lifted its position in shares of FibroGen by 292.8% during the first quarter. HighTower Advisors LLC now owns 404,488 shares of the biopharmaceutical company’s stock valued at $125,000 after purchasing an additional 301,500 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of FibroGen by 18.3% during the fourth quarter. Two Sigma Advisers LP now owns 878,400 shares of the biopharmaceutical company’s stock valued at $465,000 after purchasing an additional 135,600 shares in the last quarter. 72.71% of the stock is currently owned by institutional investors and hedge funds.

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.