ValuEngine Lowers FibroGen (FGEN) to Buy

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ValuEngine downgraded shares of FibroGen (NASDAQ:FGEN) from a strong-buy rating to a buy rating in a report issued on Monday, September 17th.

Other equities research analysts have also issued research reports about the company. Mizuho reaffirmed a buy rating and issued a $74.00 price objective on shares of FibroGen in a report on Tuesday, June 19th. BidaskClub raised FibroGen from a hold rating to a buy rating in a report on Thursday, May 24th. Leerink Swann set a $82.00 price objective on FibroGen and gave the company a buy rating in a report on Tuesday, September 11th. Citigroup lowered FibroGen from a buy rating to a hold rating and set a $71.00 price target on the stock. in a research note on Wednesday, August 8th. Finally, Zacks Investment Research raised FibroGen from a sell rating to a hold rating in a research note on Friday, June 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $75.67.

Shares of NASDAQ FGEN traded up $0.63 during midday trading on Monday, reaching $49.79. 450,829 shares of the company were exchanged, compared to its average volume of 505,708. FibroGen has a 1 year low of $40.74 and a 1 year high of $68.55. The firm has a market cap of $5.12 billion, a P/E ratio of -28.78 and a beta of 1.81. The company has a quick ratio of 7.95, a current ratio of 7.95 and a debt-to-equity ratio of 0.19.

FibroGen (NASDAQ:FGEN) last announced its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.59) by $0.31. FibroGen had a negative return on equity of 22.60% and a negative net margin of 85.59%. The company had revenue of $43.95 million for the quarter, compared to analyst estimates of $28.70 million. As a group, analysts anticipate that FibroGen will post -1.32 earnings per share for the current year.

In related news, Director Kalevi Kurkijarvi sold 4,000 shares of FibroGen stock in a transaction that occurred on Thursday, July 19th. The stock was sold at an average price of $64.35, for a total transaction of $257,400.00. Following the completion of the transaction, the director now directly owns 27,700 shares in the company, valued at approximately $1,782,495. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorma Routti sold 6,000 shares of FibroGen stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $59.93, for a total value of $359,580.00. Following the transaction, the director now owns 137,540 shares of the company’s stock, valued at $8,242,772.20. The disclosure for this sale can be found here. Insiders have sold a total of 257,409 shares of company stock worth $15,583,967 in the last three months. Corporate insiders own 8.96% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Mackay Shields LLC acquired a new position in FibroGen in the 1st quarter valued at $1,081,000. American Century Companies Inc. raised its holdings in FibroGen by 1.5% in the 1st quarter. American Century Companies Inc. now owns 84,949 shares of the biopharmaceutical company’s stock valued at $3,925,000 after acquiring an additional 1,294 shares during the last quarter. Prudential Financial Inc. raised its holdings in FibroGen by 28.2% in the 1st quarter. Prudential Financial Inc. now owns 374,159 shares of the biopharmaceutical company’s stock valued at $17,286,000 after acquiring an additional 82,340 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in FibroGen by 6.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 33,434 shares of the biopharmaceutical company’s stock valued at $1,545,000 after acquiring an additional 2,093 shares during the last quarter. Finally, Swiss National Bank raised its holdings in FibroGen by 6.0% in the 1st quarter. Swiss National Bank now owns 121,300 shares of the biopharmaceutical company’s stock valued at $5,604,000 after acquiring an additional 6,900 shares during the last quarter. Hedge funds and other institutional investors own 76.06% of the company’s stock.

About FibroGen

FibroGen, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes therapeutic agents 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; Pamrevlumab, a human-monoclonal antibody that inhibits the activity of connective tissue growth factor, which is in Phase II clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, liver fibrosis, and Duchenne muscular dystrophy; and FG-5200, a corneal implant medical device for the treatment of corneal blindness resulting from partial thickness corneal damage.

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