Citigroup Inc. reissued their buy rating on shares of FibroGen, Inc (NASDAQ:FGEN) in a research report released on Monday, June 26th. Citigroup Inc. currently has a $48.00 target price on the biopharmaceutical company’s stock.
FGEN has been the topic of a number of other research reports. Zacks Investment Research downgraded FibroGen from a hold rating to a sell rating in a report on Monday, May 8th. William Blair reissued an outperform rating on shares of FibroGen in a report on Monday, June 26th. BidaskClub upgraded FibroGen from a buy rating to a strong-buy rating in a research report on Saturday, June 24th. Finally, Stifel Nicolaus restated a buy rating and issued a $38.00 target price (up from $32.00) on shares of FibroGen in a research report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $42.17.
FibroGen (NASDAQ FGEN) traded up 1.79% during midday trading on Monday, hitting $34.10. 54,617 shares of the stock traded hands. The firm’s market cap is $2.39 billion. FibroGen has a 12 month low of $15.60 and a 12 month high of $34.25. The company’s 50 day moving average price is $28.77 and its 200 day moving average price is $25.52.
FibroGen (NASDAQ:FGEN) last issued its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.11. The firm had revenue of $26.89 million during the quarter, compared to the consensus estimate of $26.02 million. FibroGen had a negative return on equity of 36.41% and a negative net margin of 37.60%. Equities research analysts predict that FibroGen will post ($1.85) earnings per share for the current fiscal year.
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In other news, CEO Thomas B. Neff sold 18,900 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $26.35, for a total value of $498,015.00. Following the transaction, the chief executive officer now directly owns 3,345,941 shares of the company’s stock, valued at approximately $88,165,545.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Pat Cotroneo sold 4,000 shares of the company’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $34.00, for a total value of $136,000.00. Following the transaction, the vice president now directly owns 167,366 shares in the company, valued at approximately $5,690,444. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 381,128 shares of company stock worth $11,124,449. Corporate insiders own 14.90% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its stake in FibroGen by 1,455.0% in the first quarter. Acadian Asset Management LLC now owns 148,490 shares of the biopharmaceutical company’s stock worth $3,661,000 after buying an additional 138,941 shares in the last quarter. FMR LLC boosted its stake in FibroGen by 72.5% in the fourth quarter. FMR LLC now owns 1,533,431 shares of the biopharmaceutical company’s stock worth $32,815,000 after buying an additional 644,528 shares in the last quarter. Renaissance Technologies LLC boosted its stake in FibroGen by 48.9% in the fourth quarter. Renaissance Technologies LLC now owns 332,600 shares of the biopharmaceutical company’s stock worth $7,118,000 after buying an additional 109,300 shares in the last quarter. Sphera Funds Management LTD. boosted its stake in FibroGen by 6.4% in the first quarter. Sphera Funds Management LTD. now owns 165,700 shares of the biopharmaceutical company’s stock worth $4,085,000 after buying an additional 10,000 shares in the last quarter. Finally, ClariVest Asset Management LLC bought a new position in shares of FibroGen during the first quarter worth $2,065,000. Institutional investors own 43.83% of the company’s stock.
FibroGen Company Profile
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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