Wall Street Zen Upgrades FibroGen (NASDAQ:FGEN) to "Hold"

Key Points

• FibroGen was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating, indicating a more favorable outlook from analysts.
• HC Wainwright maintains a "buy" rating with a price target of $43.00 for FibroGen shares, reflecting analyst confidence in the company's prospects.
• FibroGen reported a loss of $3.38 per share in its latest earnings report, falling short of the analyst consensus estimate of a loss of $2.25 per share.

Wall Street Zen upgraded shares of FibroGen (NASDAQ:FGEN - Free Report) from a sell rating to a hold rating in a research note published on Saturday morning.

Separately, HC Wainwright restated a "buy" rating and set a $43.00 price objective on shares of FibroGen in a research note on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, FibroGen currently has a consensus rating of "Moderate Buy" and an average price target of $43.00.

FibroGen Price Performance

Shares of FibroGen stock traded up $0.24 on Friday, reaching $11.38. The company had a trading volume of 19,657 shares, compared to its average volume of 36,637. The firm has a market cap of $45.98 million, a price-to-earnings ratio of -29.95 and a beta of 0.76. The firm's 50-day moving average price is $9.50 and its two-hundred day moving average price is $8.23. FibroGen has a 1 year low of $4.50 and a 1 year high of $21.94.

FibroGen (NASDAQ:FGEN - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The biopharmaceutical company reported ($3.38) EPS for the quarter, missing the consensus estimate of ($2.25) by ($1.13). The business had revenue of $1.30 million during the quarter, compared to the consensus estimate of $2.88 million. As a group, analysts anticipate that FibroGen will post -0.8 EPS for the current year.

Insider Buying and Selling

In related news, Director James A. Schoeneck acquired 23,567 shares of the firm's stock in a transaction on Monday, June 30th. The stock was purchased at an average cost of $5.07 per share, with a total value of $119,484.69. Following the acquisition, the director owned 39,666 shares of the company's stock, valued at approximately $201,106.62. This trade represents a 146.39% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.07% of the stock is owned by insiders.

Institutional Investors Weigh In On FibroGen

Institutional investors have recently made changes to their positions in the stock. Connective Capital Management LLC bought a new stake in shares of FibroGen during the second quarter valued at approximately $80,000. Velan Capital Investment Management LP purchased a new position in shares of FibroGen during the 4th quarter valued at $42,000. Two Sigma Investments LP lifted its stake in shares of FibroGen by 19.6% during the 4th quarter. Two Sigma Investments LP now owns 604,421 shares of the biopharmaceutical company's stock valued at $320,000 after buying an additional 98,888 shares in the last quarter. Two Sigma Advisers LP increased its holdings in FibroGen by 18.3% in the 4th quarter. Two Sigma Advisers LP now owns 878,400 shares of the biopharmaceutical company's stock valued at $465,000 after acquiring an additional 135,600 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in FibroGen by 292.8% in the 1st quarter. HighTower Advisors LLC now owns 404,488 shares of the biopharmaceutical company's stock valued at $125,000 after acquiring an additional 301,500 shares during the last quarter. Hedge funds and other institutional investors own 72.71% of the company's stock.

FibroGen Company Profile

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.