FibroGen (NASDAQ:FGEN) Upgraded by BidaskClub to Strong-Buy

BidaskClub upgraded shares of FibroGen (NASDAQ:FGEN) from a buy rating to a strong-buy rating in a report released on Wednesday, BidAskClub reports.

A number of other brokerages have also issued reports on FGEN. Goldman Sachs Group reiterated a neutral rating and issued a $45.00 price target on shares of FibroGen in a report on Wednesday, May 29th. ValuEngine upgraded FibroGen from a hold rating to a buy rating in a report on Tuesday, July 2nd. Piper Jaffray Companies reiterated a positive rating and set a $40.00 price objective (down previously from $65.00) on shares of FibroGen in a report on Monday, May 27th. TheStreet lowered FibroGen from a c- rating to a d+ rating in a report on Friday, May 24th. Finally, William Blair reiterated a hold rating on shares of FibroGen in a report on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $61.14.

NASDAQ FGEN traded down $0.70 on Wednesday, hitting $46.33. 359,458 shares of the company traded hands, compared to its average volume of 438,153. The business has a 50 day simple moving average of $45.18. FibroGen has a 52-week low of $33.51 and a 52-week high of $64.85. The firm has a market cap of $4.07 billion, a P/E ratio of -44.98 and a beta of 1.86. The company has a quick ratio of 6.16, a current ratio of 6.16 and a debt-to-equity ratio of 0.09.

FibroGen (NASDAQ:FGEN) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.15. FibroGen had a negative return on equity of 17.71% and a negative net margin of 44.14%. The company had revenue of $23.90 million for the quarter, compared to the consensus estimate of $20.44 million. During the same period in the previous year, the business earned ($0.50) earnings per share. The firm’s revenue for the quarter was down 25.1% on a year-over-year basis. As a group, analysts anticipate that FibroGen will post -1.09 EPS for the current year.

In related news, SVP Christine Chung sold 11,250 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $46.41, for a total value of $522,112.50. Following the transaction, the senior vice president now directly owns 163,562 shares of the company’s stock, valued at approximately $7,590,912.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James A. Schoeneck sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $47.02, for a total value of $94,040.00. Following the completion of the transaction, the director now directly owns 5,700 shares in the company, valued at $268,014. The disclosure for this sale can be found here. In the last quarter, insiders have sold 295,060 shares of company stock valued at $12,251,501. Company insiders own 8.96% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Investments LP acquired a new position in shares of FibroGen in the 4th quarter valued at $1,095,000. Norges Bank acquired a new position in shares of FibroGen in the 4th quarter valued at $32,604,000. American Century Companies Inc. increased its position in shares of FibroGen by 1.3% in the 4th quarter. American Century Companies Inc. now owns 90,773 shares of the biopharmaceutical company’s stock valued at $4,201,000 after acquiring an additional 1,205 shares during the period. New York State Common Retirement Fund increased its position in shares of FibroGen by 124.7% in the 1st quarter. New York State Common Retirement Fund now owns 164,963 shares of the biopharmaceutical company’s stock valued at $8,966,000 after acquiring an additional 91,563 shares during the period. Finally, Amalgamated Bank increased its position in shares of FibroGen by 150.6% in the 4th quarter. Amalgamated Bank now owns 10,962 shares of the biopharmaceutical company’s stock valued at $507,000 after acquiring an additional 6,588 shares during the period. 66.41% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for FibroGen (NASDAQ:FGEN)

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