FibroGen (NASDAQ:FGEN) Upgraded to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of FibroGen (NASDAQ:FGEN) to a neutral rating in a report released on Wednesday, Stock Target Advisor reports.

A number of other brokerages have also recently commented on FGEN. Bank of America upgraded shares of FibroGen from a neutral rating to a buy rating and set a $47.00 price target on the stock in a research report on Wednesday, March 31st. Mizuho cut shares of FibroGen from a buy rating to a neutral rating and cut their target price for the stock from $72.00 to $29.00 in a report on Wednesday. Raymond James restated a sell rating on shares of FibroGen in a report on Wednesday. Jefferies Financial Group restated a hold rating and issued a $45.00 target price (down previously from $75.00) on shares of FibroGen in a report on Monday, March 8th. Finally, SVB Leerink cut their target price on shares of FibroGen from $64.00 to $56.00 and set an outperform rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. FibroGen has a consensus rating of Hold and a consensus price target of $46.14.

Shares of NASDAQ FGEN opened at $19.74 on Wednesday. FibroGen has a one year low of $19.71 and a one year high of $57.21. The firm’s 50 day simple moving average is $38.93 and its two-hundred day simple moving average is $42.24. The stock has a market capitalization of $1.81 billion, a P/E ratio of -7.56 and a beta of 1.59.

FibroGen (NASDAQ:FGEN) last issued its quarterly earnings results on Sunday, February 28th. The biopharmaceutical company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $100.82 million. During the same quarter in the previous year, the business earned ($1.12) earnings per share. The firm’s revenue was up 712.5% on a year-over-year basis. Sell-side analysts forecast that FibroGen will post -1.72 earnings per share for the current year.

In related news, Director Kalevi Kurkijarvi sold 6,000 shares of the firm’s stock in a transaction on Tuesday, January 19th. The stock was sold at an average price of $43.38, for a total value of $260,280.00. Following the completion of the sale, the director now owns 39,100 shares of the company’s stock, valued at $1,696,158. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas F. Kearns, Jr. sold 18,000 shares of the firm’s stock in a transaction on Thursday, March 11th. The stock was sold at an average price of $35.02, for a total value of $630,360.00. Following the completion of the sale, the director now directly 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. Insiders sold 35,999 shares of company stock valued at $1,445,240 in the last ninety days. 3.39% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in FGEN. Perigon Wealth Management LLC purchased a new position in FibroGen during the fourth quarter valued at $46,000. Fieldpoint Private Securities LLC purchased a new position in FibroGen during the fourth quarter valued at $65,000. Penserra Capital Management LLC lifted its position in FibroGen by 170.1% during the fourth quarter. Penserra Capital Management LLC now owns 2,085 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 1,313 shares during the period. Sowell Financial Services LLC lifted its position in FibroGen by 895.0% during the fourth quarter. Sowell Financial Services LLC now owns 2,806 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 2,524 shares during the period. Finally, Pacer Advisors Inc. lifted its position in FibroGen by 17.3% during the fourth quarter. Pacer Advisors Inc. now owns 3,228 shares of the biopharmaceutical company’s stock valued at $120,000 after buying an additional 476 shares during the period. 75.05% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for FibroGen (NASDAQ:FGEN)

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