FibroGen (NASDAQ:FGEN) Rating Lowered to Sell at BidaskClub

FibroGen (NASDAQ:FGEN) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, April 16th, BidAskClub reports.

Several other research firms have also recently weighed in on FGEN. Stifel Nicolaus assumed coverage on shares of FibroGen in a research note on Monday, February 11th. They issued a “buy” rating and a $71.00 price target for the company. ValuEngine cut shares of FibroGen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 14th. TheStreet raised shares of FibroGen from a “d+” rating to a “c-” rating in a research note on Friday, March 29th. Zacks Investment Research cut shares of FibroGen from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. Finally, Piper Jaffray Companies assumed coverage on shares of FibroGen in a research note on Friday, April 12th. They issued a “neutral” rating and a $65.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. FibroGen currently has an average rating of “Buy” and an average target price of $68.50.

FGEN stock traded down $9.28 during mid-day trading on Tuesday, reaching $36.39. The company’s stock had a trading volume of 7,500,656 shares, compared to its average volume of 624,578. The company has a market cap of $3.93 billion, a price-to-earnings ratio of -35.33 and a beta of 1.60. The company has a current ratio of 7.75, a quick ratio of 7.75 and a debt-to-equity ratio of 0.18. FibroGen has a fifty-two week low of $33.51 and a fifty-two week high of $68.55.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.53) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.68) by $0.15. FibroGen had a negative net margin of 44.14% and a negative return on equity of 17.69%. The company had revenue of $23.90 million during the quarter, compared to the consensus estimate of $20.44 million. During the same quarter in the prior year, the firm earned ($0.50) EPS. FibroGen’s quarterly revenue was down 25.1% on a year-over-year basis. As a group, equities analysts forecast that FibroGen will post -0.97 earnings per share for the current year.

In related news, SVP Pat Cotroneo sold 14,787 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $16,094,891.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas B. Neff sold 39,636 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $55.65, for a total transaction of $2,205,743.40. Following the sale, the chief executive officer now owns 2,619,572 shares in the company, valued at $145,779,181.80. The disclosure for this sale can be found here. Insiders have sold a total of 231,791 shares of company stock valued at $12,644,356 in the last ninety days. 8.96% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of FibroGen by 3.0% in the first quarter. Principal Financial Group Inc. now owns 142,866 shares of the biopharmaceutical company’s stock valued at $7,765,000 after buying an additional 4,154 shares during the last quarter. AlphaCrest Capital Management LLC acquired a new position in shares of FibroGen in the first quarter valued at approximately $283,000. Federated Investors Inc. PA purchased a new stake in FibroGen in the first quarter valued at approximately $2,535,000. Swiss National Bank grew its holdings in FibroGen by 3.9% in the first quarter. Swiss National Bank now owns 139,400 shares of the biopharmaceutical company’s stock valued at $7,576,000 after purchasing an additional 5,200 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in FibroGen by 10.7% in the first quarter. Dimensional Fund Advisors LP now owns 172,870 shares of the biopharmaceutical company’s stock valued at $9,396,000 after purchasing an additional 16,651 shares during the period. Institutional investors and hedge funds own 66.67% of the company’s stock.

About FibroGen

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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