FibroGen (NASDAQ:FGEN) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of FibroGen (NASDAQ:FGEN) from a strong-buy rating to a hold rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “FibroGen, Inc. is a research-based biotechnology company. It is focused on the discovery, development, and commercialization of therapeutic agents for treatment of anemia, fibrosis, cancer, and other serious unmet medical needs. The Company develops Roxadustat that is in Phase III clinical development for the treatment of anemia in chronic kidney disease; and FG-3019 which is in Phase II clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, and liver fibrosis. FibroGen, Inc. is headquartered in San Francisco, California. “

FGEN has been the subject of several other reports. ValuEngine raised shares of FibroGen from a hold rating to a buy rating in a report on Friday, November 8th. Mizuho reissued a positive rating and set a $72.00 price objective (up from $65.00) on shares of FibroGen in a report on Monday, November 11th. BidaskClub raised shares of FibroGen from a sell rating to a hold rating in a report on Thursday, October 17th. Finally, TheStreet raised shares of FibroGen from a d+ rating to a c rating in a report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $58.33.

FGEN stock traded down $0.12 during mid-day trading on Thursday, hitting $36.87. 817,100 shares of the company were exchanged, compared to its average volume of 736,678. The company has a market capitalization of $3.05 billion, a PE ratio of -35.80 and a beta of 1.84. The company has a current ratio of 9.01, a quick ratio of 9.71 and a debt-to-equity ratio of 0.07. FibroGen has a twelve month low of $32.33 and a twelve month high of $61.23. The firm has a fifty day simple moving average of $38.25 and a 200 day simple moving average of $41.47.

FibroGen (NASDAQ:FGEN) last announced its quarterly earnings data on Monday, November 11th. The biopharmaceutical company reported ($0.57) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.59) by $0.02. The company had revenue of $33.17 million during the quarter, compared to analyst estimates of $31.61 million. FibroGen had a net margin of 11.81% and a return on equity of 7.33%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the business earned ($0.50) EPS. As a group, sell-side analysts anticipate that FibroGen will post -0.16 earnings per share for the current year.

In other news, SVP Christine Chung sold 5,625 shares of FibroGen stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $34.74, for a total value of $195,412.50. Following the completion of the transaction, the senior vice president now directly owns 145,253 shares of the company’s stock, valued at approximately $5,046,089.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas B. Neff sold 39,636 shares of FibroGen stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $44.33, for a total transaction of $1,757,063.88. Following the completion of the transaction, the chief executive officer now directly owns 2,356,578 shares of the company’s stock, valued at $104,467,102.74. The disclosure for this sale can be found here. Insiders sold a total of 92,381 shares of company stock valued at $3,839,495 over the last ninety days. Company insiders own 7.83% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of FGEN. Commonwealth Equity Services LLC acquired a new position in shares of FibroGen in the 2nd quarter valued at about $295,000. Rhenman & Partners Asset Management AB boosted its stake in FibroGen by 83.4% during the 2nd quarter. Rhenman & Partners Asset Management AB now owns 347,439 shares of the biopharmaceutical company’s stock valued at $15,697,000 after purchasing an additional 157,948 shares during the period. Strs Ohio boosted its stake in FibroGen by 48.3% during the 2nd quarter. Strs Ohio now owns 248,800 shares of the biopharmaceutical company’s stock valued at $11,240,000 after purchasing an additional 81,000 shares during the period. Rothschild & Co. Asset Management US Inc. boosted its stake in FibroGen by 6.4% during the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 146,581 shares of the biopharmaceutical company’s stock valued at $6,623,000 after purchasing an additional 8,797 shares during the period. Finally, Bailard Inc. boosted its stake in FibroGen by 75.0% during the 2nd quarter. Bailard Inc. now owns 14,000 shares of the biopharmaceutical company’s stock valued at $633,000 after purchasing an additional 6,000 shares during the period. 69.71% of the stock is owned by institutional investors and hedge funds.

FibroGen Company Profile

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics 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 in the United States and Europe; and in Phase II/III development in China for anemia associated with myelodysplastic syndromes.

Read More: Outstanding Shares

Get a free copy of the Zacks research report on FibroGen (FGEN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for FibroGen (NASDAQ:FGEN)

Receive News & Ratings for FibroGen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FibroGen and related companies with MarketBeat.com's FREE daily email newsletter.