FibroGen (FGEN) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of FibroGen (NASDAQ:FGEN) from a buy rating to a hold rating in a research note published on Wednesday morning, 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. “

Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of FibroGen from a strong-buy rating to a buy rating in a research report on Friday, February 22nd. ValuEngine lowered shares of FibroGen from a strong-buy rating to a buy rating in a research report on Thursday, February 14th. Stifel Nicolaus started coverage on shares of FibroGen in a research report on Monday, February 11th. They issued a buy rating and a $71.00 price objective on the stock. TheStreet raised shares of FibroGen from a d+ rating to a c- rating in a research report on Friday, March 29th. Finally, William Blair lowered shares of FibroGen from an outperform rating to a market perform rating in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $68.50.

Shares of FGEN traded down $1.55 during trading hours on Wednesday, hitting $35.77. The company had a trading volume of 1,150,366 shares, compared to its average volume of 1,046,314. The firm has a market capitalization of $3.08 billion, a PE ratio of -34.73 and a beta of 1.60. FibroGen has a 12 month low of $33.51 and a 12 month high of $68.55. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.16 and a quick ratio of 6.16.

FibroGen (NASDAQ:FGEN) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.68) by $0.15. The company had revenue of $23.90 million for the quarter, compared to analyst estimates of $20.44 million. FibroGen had a negative net margin of 44.14% and a negative return on equity of 17.71%. The company’s revenue was down 25.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.50) earnings per share. Analysts predict that FibroGen will post -0.9 earnings per share for the current fiscal year.

In related news, CEO Thomas B. Neff sold 39,636 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $36.34, for a total transaction of $1,440,372.24. Following the transaction, the chief executive officer now directly owns 2,527,044 shares of the company’s stock, valued at $91,832,778.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Pat Cotroneo sold 14,787 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $60.08, for a total transaction of $888,402.96. Following the transaction, the senior vice president now directly 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 ninety days, insiders have sold 271,427 shares of company stock worth $14,084,728. 8.96% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in FibroGen by 2.8% during the first quarter. FMR LLC now owns 10,029,786 shares of the biopharmaceutical company’s stock worth $545,118,000 after acquiring an additional 269,570 shares during the period. BlueMountain Capital Management LLC increased its position in FibroGen by 736.1% during the first quarter. BlueMountain Capital Management LLC now owns 151,576 shares of the biopharmaceutical company’s stock worth $8,238,000 after acquiring an additional 133,446 shares during the period. Perceptive Advisors LLC bought a new position in FibroGen during the first quarter worth about $506,000. Ladenburg Thalmann Financial Services Inc. increased its position in FibroGen by 15.9% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,756 shares of the biopharmaceutical company’s stock worth $205,000 after acquiring an additional 515 shares during the period. Finally, Morgan Stanley increased its position in FibroGen by 48.1% during the first quarter. Morgan Stanley now owns 385,887 shares of the biopharmaceutical company’s stock worth $20,973,000 after acquiring an additional 125,357 shares during the period. 66.31% of the stock is currently owned by institutional investors and hedge funds.

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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