FibroGen (NASDAQ:FGEN) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of FibroGen (NASDAQ:FGEN) in a report released on Tuesday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

FibroGen Stock Down 5.2 %

Shares of NASDAQ:FGEN opened at $0.30 on Tuesday. The company’s fifty day moving average is $0.38 and its two-hundred day moving average is $0.77. The company has a market cap of $29.98 million, a P/E ratio of -0.12 and a beta of 0.70. FibroGen has a 12-month low of $0.29 and a 12-month high of $2.93.

FibroGen (NASDAQ:FGEN) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.09. The business had revenue of $50.64 million during the quarter, compared to analyst estimates of $33.00 million. During the same quarter in the prior year, the company earned ($0.65) EPS. Equities research analysts anticipate that FibroGen will post -0.91 earnings per share for the current year.

Hedge Funds Weigh In On FibroGen

Institutional investors and hedge funds have recently modified their holdings of the stock. Alpine Global Management LLC acquired a new stake in FibroGen during the first quarter valued at $25,000. Delap Wealth Advisory LLC purchased a new stake in shares of FibroGen during the 1st quarter worth about $27,000. Acadian Asset Management LLC lifted its holdings in shares of FibroGen by 1.4% during the 1st quarter. Acadian Asset Management LLC now owns 2,503,865 shares of the biopharmaceutical company’s stock valued at $5,883,000 after buying an additional 34,937 shares during the last quarter. Sei Investments Co. increased its holdings in FibroGen by 38.4% in the second quarter. Sei Investments Co. now owns 149,342 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 41,442 shares during the last quarter. Finally, Accel Wealth Management bought a new position in FibroGen during the first quarter valued at approximately $103,000. 72.71% of the stock is currently owned by hedge funds and other institutional investors.

About FibroGen

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. Its lead product candidates are Pamrevlumab, a human monoclonal antibody targeting connective tissue growth factor that is in Phase III clinical development for the treatment of locally advanced pancreatic cancer; and Roxadustat, an oral small molecule inhibitor of hypoxia-inducible factor prolyl hydroxylase activity, which has completed Phase III clinical development for the treatment of anemia in chronic kidney disease in China, Europe, Japan, and other countries, as well as in Phase III clinical development for anemia related with myelodysplastic syndromes.