Zacks Investment Research Lowers FibroGen (NASDAQ:FGEN) to Hold

Zacks Investment Research cut shares of FibroGen (NASDAQ:FGEN) from a buy rating to a hold rating in a research note released on Thursday morning, 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. “

A number of other research firms have also weighed in on FGEN. BidaskClub lowered shares of Xperi from a sell rating to a strong sell rating in a research note on Wednesday, June 19th. William Blair reaffirmed a hold rating on shares of FibroGen in a research note on Tuesday, July 2nd. Goldman Sachs Group raised shares of Koninklijke KPN from a neutral rating to a buy rating in a research note on Wednesday, May 29th. TheStreet lowered shares of WESCO International from a b- rating to a c+ rating in a research note on Friday, May 24th. Finally, Piper Jaffray Companies reaffirmed a positive rating and issued a $40.00 price objective (down from $65.00) on shares of FibroGen in a research note on Monday, May 27th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $61.14.

NASDAQ:FGEN opened at $46.23 on Thursday. The company has a quick ratio of 6.16, a current ratio of 6.16 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average of $42.66. FibroGen has a 12 month low of $33.51 and a 12 month high of $67.85.

FibroGen (NASDAQ:FGEN) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.15. The business had revenue of $23.90 million during the quarter, compared to analysts’ expectations of $20.44 million. FibroGen had a negative net margin of 44.14% and a negative return on equity of 17.71%. The business’s quarterly revenue was down 25.1% on a year-over-year basis. During the same period last year, the company posted ($0.50) earnings per share. As a group, research analysts anticipate that FibroGen will post -1.09 EPS for the current year.

In related news, CEO Thomas B. Neff sold 39,636 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $36.34, for a total transaction of $1,440,372.24. Following the transaction, the chief executive officer now directly owns 2,527,044 shares of the company’s stock, valued at $91,832,778.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christine Chung sold 11,250 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $44.97, for a total transaction of $505,912.50. Following the transaction, the senior vice president now directly owns 157,195 shares in the company, valued at $7,069,059.15. The disclosure for this sale can be found here. Insiders have sold 255,424 shares of company stock worth $10,398,914 over the last three months. 8.96% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC lifted its position in shares of FibroGen by 150.0% during the first quarter. Lindbrook Capital LLC now owns 500 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. FTB Advisors Inc. bought a new stake in FibroGen in the first quarter worth about $27,000. Manchester Capital Management LLC bought a new stake in FibroGen in the first quarter worth about $39,000. Cornerstone Advisors Inc. raised its position in FibroGen by 672.8% in the first quarter. Cornerstone Advisors Inc. now owns 796 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 693 shares during the period. Finally, Quadrant Capital Group LLC bought a new stake in FibroGen in the first quarter worth about $45,000. 66.27% of the stock is currently owned by institutional investors.

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.

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