FibroGen (NASDAQ:FGEN) Receives Buy Rating from HC Wainwright

FibroGen (NASDAQ:FGEN)‘s stock had its “buy” rating reiterated by HC Wainwright in a report released on Thursday,Benzinga reports. They presently have a $10.00 target price on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on FGEN. StockNews.com initiated coverage on shares of FibroGen in a research report on Thursday, February 13th. They set a “hold” rating for the company. William Blair reissued a “market perform” rating on shares of FibroGen in a research note on Wednesday, November 13th.

FibroGen Price Performance

NASDAQ FGEN traded up $0.17 during trading on Thursday, hitting $0.73. 86,667,338 shares of the company’s stock traded hands, compared to its average volume of 3,638,872. The stock has a fifty day moving average of $0.51 and a two-hundred day moving average of $0.42. FibroGen has a 12-month low of $0.18 and a 12-month high of $2.80. The firm has a market cap of $73.26 million, a P/E ratio of -0.60 and a beta of 0.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FGEN. JPMorgan Chase & Co. lifted its stake in FibroGen by 430.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,673,555 shares of the biopharmaceutical company’s stock valued at $668,000 after acquiring an additional 1,358,194 shares during the period. Assenagon Asset Management S.A. bought a new position in FibroGen during the third quarter valued at approximately $307,000. Renaissance Technologies LLC boosted its holdings in FibroGen by 80.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,358,712 shares of the biopharmaceutical company’s stock worth $719,000 after purchasing an additional 605,572 shares during the last quarter. Squarepoint Ops LLC bought a new stake in FibroGen in the 4th quarter worth approximately $205,000. Finally, Two Sigma Advisers LP increased its position in FibroGen by 18.3% during the fourth 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. Institutional investors 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.