FibroGen (FGEN) Upgraded to “Strong-Buy” by BidaskClub

FibroGen (NASDAQ:FGEN) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

Several other equities research analysts also recently commented on the company. Zacks Investment Research downgraded FibroGen from a “buy” rating to a “hold” rating in a report on Wednesday. Citigroup raised FibroGen from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Tuesday, December 18th. Mizuho reissued a “buy” rating and issued a $74.00 price objective on shares of FibroGen in a report on Monday, December 17th. TheStreet downgraded FibroGen from a “c-” rating to a “d+” rating in a report on Wednesday, November 21st. Finally, Leerink Swann set a $84.00 price objective on FibroGen and gave the company a “buy” rating in a report on Monday, October 15th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $70.25.

Shares of NASDAQ FGEN traded down $0.23 during trading hours on Thursday, hitting $47.68. The company had a trading volume of 349,398 shares, compared to its average volume of 705,575. The company has a market cap of $4.08 billion, a PE ratio of -27.56 and a beta of 1.67. The company has a current ratio of 6.76, a quick ratio of 6.76 and a debt-to-equity ratio of 0.20. FibroGen has a 1-year low of $37.27 and a 1-year high of $68.55.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.15). The company had revenue of $29.00 million during the quarter, compared to analyst estimates of $36.48 million. FibroGen had a negative net margin of 87.84% and a negative return on equity of 24.59%. FibroGen’s revenue was down 28.6% on a year-over-year basis. As a group, sell-side analysts predict that FibroGen will post -1.55 EPS for the current fiscal year.

In other FibroGen news, Director James A. Schoeneck sold 2,000 shares of the firm’s stock in a transaction on Monday, January 7th. The stock was sold at an average price of $45.90, for a total transaction of $91,800.00. Following the completion of the sale, the director now owns 29,700 shares of the company’s stock, valued at approximately $1,363,230. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas B. Neff sold 18,900 shares of the firm’s stock in a transaction on Thursday, October 18th. The shares were sold at an average price of $54.52, for a total value of $1,030,428.00. Following the sale, the chief executive officer now directly owns 2,710,412 shares of the company’s stock, valued at approximately $147,771,662.24. The disclosure for this sale can be found here. Insiders have sold a total of 205,924 shares of company stock valued at $9,021,309 in the last ninety days. Insiders own 8.96% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Trexquant Investment LP acquired a new stake in FibroGen during the 3rd quarter valued at $201,000. Pacer Advisors Inc. acquired a new stake in FibroGen during the 3rd quarter valued at $246,000. Nisa Investment Advisors LLC lifted its holdings in FibroGen by 1,829.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,174 shares of the biopharmaceutical company’s stock valued at $375,000 after purchasing an additional 5,854 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in FibroGen during the 3rd quarter valued at $462,000. Finally, Fox Run Management L.L.C. acquired a new stake in FibroGen during the 3rd quarter valued at $486,000. 64.86% of the stock is owned by institutional investors and hedge funds.

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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