FibroGen (NASDAQ:FGEN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm presently has a $62.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 14.03% from the company’s previous close.
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. “
Get FibroGen alerts:FGEN has been the subject of several other reports. BidaskClub upgraded shares of FibroGen from a “hold” rating to a “buy” rating in a research report on Saturday, December 22nd. TheStreet cut shares of FibroGen from a “c-” rating to a “d+” rating in a research report on Wednesday, November 21st. Citigroup upgraded shares of FibroGen from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Tuesday, December 18th. Mizuho reiterated a “buy” rating and set a $74.00 price objective on shares of FibroGen in a research report on Monday, December 17th. Finally, ValuEngine cut shares of FibroGen from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $72.40.
Shares of FGEN stock opened at $54.37 on Friday. The stock has a market cap of $4.62 billion, a P/E ratio of -52.79 and a beta of 1.77. The company has a quick ratio of 6.76, a current ratio of 6.76 and a debt-to-equity ratio of 0.20. FibroGen has a 52 week low of $37.27 and a 52 week high of $68.55.
FibroGen (NASDAQ:FGEN) last released its quarterly earnings data on Wednesday, February 27th. The biopharmaceutical company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.40. FibroGen had a negative net margin of 87.84% and a negative return on equity of 24.59%. The business had revenue of $108.05 million during the quarter, compared to analysts’ expectations of $72.15 million. During the same period in the prior year, the company earned ($0.27) EPS. The firm’s quarterly revenue was up 251.5% compared to the same quarter last year. On average, research analysts forecast that FibroGen will post -0.93 EPS for the current year.
In related news, CEO Thomas B. Neff sold 60,000 shares of the stock in a transaction on Friday, January 4th. The shares were sold at an average price of $44.39, for a total transaction of $2,663,400.00. Following the transaction, the chief executive officer now directly owns 2,652,785 shares of the company’s stock, valued at $117,757,126.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Roberto Pedro Rosenkranz sold 1,000 shares of the stock in a transaction on Thursday, December 20th. The stock was sold at an average price of $41.00, for a total transaction of $41,000.00. Following the transaction, the director now directly owns 27,700 shares in the company, valued at $1,135,700. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 275,991 shares of company stock valued at $14,499,277. 8.96% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. American International Group Inc. lifted its stake in shares of FibroGen by 1.0% in the fourth quarter. American International Group Inc. now owns 50,074 shares of the biopharmaceutical company’s stock valued at $2,317,000 after buying an additional 478 shares in the last quarter. BBR Partners LLC lifted its stake in shares of FibroGen by 7.6% in the fourth quarter. BBR Partners LLC now owns 7,056 shares of the biopharmaceutical company’s stock valued at $327,000 after buying an additional 500 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of FibroGen by 622.4% in the fourth quarter. Meeder Asset Management Inc. now owns 614 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 529 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of FibroGen by 13.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,259 shares of the biopharmaceutical company’s stock valued at $243,000 after buying an additional 609 shares in the last quarter. Finally, Xact Kapitalforvaltning AB lifted its stake in shares of FibroGen by 6.6% in the fourth quarter. Xact Kapitalforvaltning AB now owns 12,988 shares of the biopharmaceutical company’s stock valued at $601,000 after buying an additional 800 shares in the last quarter. 65.63% of the stock is currently owned by institutional investors and hedge funds.
About FibroGen
FibroGen, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes therapeutic agents 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; Pamrevlumab, a human-monoclonal antibody that inhibits the activity of connective tissue growth factor, which is in Phase II clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, liver fibrosis, and Duchenne muscular dystrophy; and FG-5200, a corneal implant medical device for the treatment of corneal blindness resulting from partial thickness corneal damage.
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