FibroGen (NASDAQ:FGEN) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of FibroGen (NASDAQ:FGEN) in a research note issued to investors on Tuesday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

FibroGen Trading Up 5.8 %

Shares of NASDAQ FGEN opened at $0.32 on Tuesday. The stock has a market capitalization of $32.02 million, a PE ratio of -0.19 and a beta of 0.70. FibroGen has a twelve month low of $0.29 and a twelve month high of $2.93. The stock has a fifty day simple moving average of $0.37 and a 200-day simple moving average of $0.77.

FibroGen (NASDAQ:FGEN) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.09. The business had revenue of $50.64 million for the quarter, compared to analysts’ expectations of $33.00 million. During the same quarter last year, the company earned ($0.65) earnings per share. On average, equities analysts predict that FibroGen will post -0.91 earnings per share for the current year.

Hedge Funds Weigh In On FibroGen

Several institutional investors have recently modified their holdings of FGEN. Alpine Global Management LLC purchased a new position in FibroGen in the first quarter valued at $25,000. Delap Wealth Advisory LLC acquired a new position in shares of FibroGen during the first quarter worth about $27,000. Point72 DIFC Ltd increased its stake in shares of FibroGen by 734.2% during the second quarter. Point72 DIFC Ltd now owns 52,254 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 45,990 shares during the period. Doheny Asset Management CA purchased a new stake in shares of FibroGen during the second quarter worth approximately $48,000. Finally, Accel Wealth Management raised its holdings in 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 acquiring an additional 51,645 shares in the last quarter. Institutional investors and hedge funds own 72.71% of the company’s stock.

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.