FibroGen (NASDAQ:FGEN) Downgraded to “Neutral” at HC Wainwright

HC Wainwright lowered shares of FibroGen (NASDAQ:FGEN) from a buy rating to a neutral rating in a report issued on Wednesday morning, Analyst Ratings Network reports.

Other analysts have also recently issued research reports about the company. SVB Leerink lowered their price target on FibroGen from $91.00 to $64.00 and set an outperform rating on the stock in a report on Monday, March 8th. Bank of America upgraded FibroGen from a neutral rating to a buy rating and set a $47.00 price objective on the stock in a research report on Wednesday, March 31st. Jefferies Financial Group restated a hold rating and set a $45.00 price target (down from $75.00) on shares of FibroGen in a research report on Monday, March 8th. Finally, Zacks Investment Research lowered FibroGen from a hold rating to a sell rating in a research report on Monday, February 22nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $46.14.

Shares of FGEN opened at $19.74 on Wednesday. The stock’s 50-day simple moving average is $38.93 and its 200 day simple moving average is $42.24. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -7.56 and a beta of 1.59. FibroGen has a 52-week low of $19.71 and a 52-week high of $57.21.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings results on Sunday, February 28th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.35). FibroGen had a negative net margin of 191.78% and a negative return on equity of 48.19%. The business had revenue of $65.00 million during the quarter, compared to analysts’ expectations of $100.82 million. During the same period in the previous year, the business earned ($1.12) EPS. The business’s revenue was up 712.5% on a year-over-year basis. As a group, research analysts predict that FibroGen will post -1.72 earnings per share for the current year.

In other news, Director Kalevi Kurkijarvi sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 17th. The stock was sold at an average price of $52.40, for a total value of $314,400.00. Following the completion of the transaction, the director now owns 39,100 shares in the company, valued at approximately $2,048,840. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas F. Kearns, Jr. sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 11th. The shares were sold at an average price of $35.02, for a total value of $630,360.00. Following the completion of the transaction, the director now owns 166,164 shares of the company’s stock, valued at approximately $5,819,063.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,999 shares of company stock valued at $1,445,240. 3.39% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in FibroGen during the fourth quarter valued at $26,616,000. UBS Asset Management Americas Inc. increased its holdings in shares of FibroGen by 7.1% in the 4th quarter. UBS Asset Management Americas Inc. now owns 94,643 shares of the biopharmaceutical company’s stock worth $3,510,000 after purchasing an additional 6,312 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of FibroGen by 76.5% in the 4th quarter. Hsbc Holdings PLC now owns 17,208 shares of the biopharmaceutical company’s stock worth $640,000 after purchasing an additional 7,456 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of FibroGen by 5.1% in the fourth quarter. Principal Financial Group Inc. now owns 278,348 shares of the biopharmaceutical company’s stock worth $10,324,000 after acquiring an additional 13,419 shares during the period. Finally, Intercontinental Wealth Advisors LLC grew its holdings in shares of FibroGen by 23,812.5% in the fourth quarter. Intercontinental Wealth Advisors LLC now owns 191,300 shares of the biopharmaceutical company’s stock worth $7,095,000 after acquiring an additional 190,500 shares during the period. Institutional investors and hedge funds own 75.05% of the company’s stock.

FibroGen Company Profile

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. The company is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases 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: How Buying a Call Option Works

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.