William Blair Reaffirms Market Perform Rating for FibroGen (NASDAQ:FGEN)

FibroGen (NASDAQ:FGEN)‘s stock had its “market perform” rating reaffirmed by analysts at William Blair in a research report issued on Wednesday,RTT News reports.

Separately, StockNews.com began coverage on shares of FibroGen in a research report on Wednesday, November 6th. They set a “hold” rating for the company.

FibroGen Stock Up 11.3 %

Shares of FGEN stock opened at $0.37 on Wednesday. FibroGen has a 52-week low of $0.18 and a 52-week high of $2.93. The firm’s 50-day moving average is $0.37 and its 200-day moving average is $0.72.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.21. The company had revenue of $46.33 million during the quarter, compared to analyst estimates of $34.00 million. During the same quarter in the prior year, the firm earned ($0.52) earnings per share. Sell-side analysts forecast that FibroGen will post -1.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FGEN. Alpine Global Management LLC bought a new stake in shares of FibroGen in the first quarter valued at about $25,000. Delap Wealth Advisory LLC acquired a new position in shares of FibroGen during the 1st quarter worth approximately $27,000. Point72 DIFC Ltd grew its position in shares of FibroGen by 734.2% during the 2nd quarter. Point72 DIFC Ltd now owns 52,254 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 45,990 shares in the last quarter. Doheny Asset Management CA bought a new position in shares of FibroGen during the second quarter worth approximately $48,000. Finally, Accel Wealth Management raised its position in shares of FibroGen by 117.5% in the second quarter. Accel Wealth Management now owns 95,600 shares of the biopharmaceutical company’s stock valued at $85,000 after buying an additional 51,645 shares in the last quarter. 72.71% of the stock is owned by institutional investors and hedge funds.

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.