Zacks Investment Research downgraded shares of FibroGen Inc (NASDAQ:FGEN) from a hold rating to a sell rating in a research note issued to investors on Monday, May 8th.
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. “
A number of other analysts have also commented on FGEN. Stifel Nicolaus reiterated a positive rating and issued a $33.00 price objective on shares of FibroGen in a research report on Wednesday, January 18th. Royal Bank of Canada restated a buy rating on shares of FibroGen in a report on Wednesday, January 18th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $37.50.
Shares of FibroGen (NASDAQ:FGEN) traded down 1.83% during mid-day trading on Monday, hitting $26.75. 300,400 shares of the company traded hands. The firm’s market cap is $1.87 billion. FibroGen has a 52-week low of $14.50 and a 52-week high of $29.00. The firm has a 50-day moving average price of $26.56 and a 200 day moving average price of $23.77.
FibroGen (NASDAQ:FGEN) last announced its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.11. FibroGen had a negative return on equity of 40.38% and a negative net margin of 45.93%. The company had revenue of $26.89 million during the quarter, compared to analyst estimates of $26.02 million. Equities research analysts anticipate that FibroGen will post ($1.81) EPS for the current fiscal year.
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In related news, CEO Thomas B. Neff sold 38,636 shares of the company’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $24.34, for a total transaction of $940,400.24. Following the completion of the sale, the chief executive officer now directly owns 3,345,941 shares in the company, valued at approximately $81,440,203.94. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas B. Neff sold 18,900 shares of the company’s stock in a transaction on Monday, March 20th. The stock was sold at an average price of $24.88, for a total value of $470,232.00. Following the sale, the chief executive officer now owns 3,345,941 shares of the company’s stock, valued at $83,247,012.08. The disclosure for this sale can be found here. Insiders sold a total of 309,016 shares of company stock valued at $7,953,185 over the last 90 days. 14.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. Rothschild Asset Management Inc. boosted its stake in shares of FibroGen by 4.5% in the third quarter. Rothschild Asset Management Inc. now owns 131,848 shares of the biopharmaceutical company’s stock valued at $2,729,000 after buying an additional 5,674 shares during the last quarter. FMR LLC boosted its stake in shares of FibroGen by 72.5% in the fourth quarter. FMR LLC now owns 1,533,431 shares of the biopharmaceutical company’s stock valued at $32,815,000 after buying an additional 644,528 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of FibroGen by 48.9% in the fourth quarter. Renaissance Technologies LLC now owns 332,600 shares of the biopharmaceutical company’s stock valued at $7,118,000 after buying an additional 109,300 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of FibroGen by 1,455.0% in the first quarter. Acadian Asset Management LLC now owns 148,490 shares of the biopharmaceutical company’s stock valued at $3,661,000 after buying an additional 138,941 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of FibroGen by 0.9% in the third quarter. Teachers Advisors LLC now owns 445,357 shares of the biopharmaceutical company’s stock valued at $9,219,000 after buying an additional 3,790 shares during the last quarter. 47.74% of the stock is owned by institutional investors and hedge funds.
FibroGen, Inc is a science-based biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of therapeutics to treat serious unmet medical needs. Its lead product candidate is roxadustat (FG-4592). It is also engaged in developing products, such as FG-6874, FG-3019 and FG-5200.
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