FibroGen (NASDAQ:FGEN) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of FibroGen (NASDAQ:FGEN) in a research report released on Tuesday,Benzinga reports. The brokerage currently has a $10.00 price target on the biopharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the company. William Blair reissued a “market perform” rating on shares of FibroGen in a research report on Tuesday, April 1st. StockNews.com began coverage on FibroGen in a research report on Friday, May 9th. They set a “hold” rating on the stock.

FibroGen Stock Down 2.0%

Shares of FibroGen stock opened at $0.30 on Tuesday. The stock’s fifty day moving average is $0.32 and its two-hundred day moving average is $0.41. The company has a market capitalization of $30.24 million, a PE ratio of -0.24 and a beta of 0.86. FibroGen has a 52 week low of $0.18 and a 52 week high of $1.53.

FibroGen (NASDAQ:FGEN) last posted its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.19). The firm had revenue of $2.70 million during the quarter, compared to analyst estimates of $2.00 million. As a group, research analysts anticipate that FibroGen will post -0.8 earnings per share for the current year.

Insider Buying and Selling

In other news, Director James A. Schoeneck bought 250,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average price of $0.35 per share, with a total value of $87,500.00. Following the completion of the acquisition, the director now directly owns 323,722 shares of the company’s stock, valued at $113,302.70. This trade represents a 339.11% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thane Wettig bought 145,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average cost of $0.35 per share, with a total value of $50,750.00. Following the acquisition, the chief executive officer now directly owns 543,329 shares of the company’s stock, valued at approximately $190,165.15. This trade represents a 36.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.07% of the company’s stock.

Institutional Investors Weigh In On FibroGen

A number of institutional investors and hedge funds have recently modified their holdings of FGEN. Two Sigma Securities LLC purchased a new position in FibroGen during the fourth quarter valued at approximately $27,000. Velan Capital Investment Management LP purchased a new position in FibroGen during the fourth quarter valued at approximately $42,000. XTX Topco Ltd raised its position in FibroGen by 423.8% during the fourth quarter. XTX Topco Ltd now owns 96,025 shares of the biopharmaceutical company’s stock valued at $51,000 after acquiring an additional 77,693 shares in the last quarter. Squarepoint Ops LLC purchased a new position in FibroGen during the fourth quarter valued at approximately $205,000. Finally, HighTower Advisors LLC raised its position in FibroGen by 292.8% during the first quarter. HighTower Advisors LLC now owns 404,488 shares of the biopharmaceutical company’s stock valued at $125,000 after acquiring an additional 301,500 shares in the last quarter. Institutional investors and hedge funds own 72.71% of the company’s stock.

About FibroGen

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. Its lead product candidates are Pamrevlumab, a human monoclonal antibody targeting connective tissue growth factor that is in Phase III clinical development for the treatment of locally advanced pancreatic cancer; and Roxadustat, an oral small molecule inhibitor of hypoxia-inducible factor prolyl hydroxylase activity, which has completed Phase III clinical development for the treatment of anemia in chronic kidney disease in China, Europe, Japan, and other countries, as well as in Phase III clinical development for anemia related with myelodysplastic syndromes.