StockNews.com Begins Coverage on FibroGen (NASDAQ:FGEN)

StockNews.com assumed coverage on shares of FibroGen (NASDAQ:FGEN) in a research report issued on Sunday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Separately, William Blair restated a “market perform” rating on shares of FibroGen in a report on Wednesday, November 13th.

FibroGen Stock Up 6.1 %

Shares of NASDAQ FGEN opened at $0.36 on Friday. The firm has a 50-day simple moving average of $0.36 and a 200-day simple moving average of $0.61. The stock has a market capitalization of $36.58 million, a price-to-earnings ratio of -0.30 and a beta of 0.82. FibroGen has a 52 week low of $0.18 and a 52 week high of $2.93.

FibroGen (NASDAQ:FGEN) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.21. The business had revenue of $46.33 million during the quarter, compared to analysts’ expectations of $34.00 million. During the same period last year, the business earned ($0.52) earnings per share. As a group, equities research analysts expect that FibroGen will post -0.86 EPS for the current year.

Hedge Funds Weigh In On FibroGen

A number of institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC increased its holdings in shares of FibroGen by 34.4% during the 2nd quarter. Acadian Asset Management LLC now owns 3,364,719 shares of the biopharmaceutical company’s stock worth $2,997,000 after buying an additional 860,854 shares during the last quarter. AQR Capital Management LLC increased its stake in FibroGen by 139.6% during the second quarter. AQR Capital Management LLC now owns 1,320,866 shares of the biopharmaceutical company’s stock worth $1,179,000 after acquiring an additional 769,586 shares during the last quarter. Geode Capital Management LLC raised its position in FibroGen by 3.1% in the third quarter. Geode Capital Management LLC now owns 1,083,521 shares of the biopharmaceutical company’s stock valued at $433,000 after purchasing an additional 32,884 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of FibroGen in the 3rd quarter valued at $307,000. Finally, XTX Topco Ltd purchased a new position in shares of FibroGen during the 2nd quarter worth $424,000. 72.71% of the stock is owned by hedge funds and other institutional investors.

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.