FibroGen (NASDAQ:FGEN) Earns “Buy” Rating from HC Wainwright

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

FGEN has been the subject of a number of other reports. StockNews.com assumed coverage on FibroGen in a research report on Friday, May 9th. They issued a “hold” rating for the company. William Blair restated a “market perform” rating on shares of FibroGen in a research report on Tuesday, April 1st.

FibroGen Trading Down 2.0%

Shares of FGEN stock opened at $0.30 on Tuesday. The stock has a market cap of $30.24 million, a P/E ratio of -0.24 and a beta of 0.86. FibroGen has a twelve month low of $0.18 and a twelve month high of $1.53. The stock has a 50 day moving average of $0.32 and a 200 day moving average of $0.41.

FibroGen (NASDAQ:FGEN) last posted its quarterly earnings data on Monday, May 12th. The biopharmaceutical company reported ($0.16) 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. On average, research analysts predict that FibroGen will post -0.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other FibroGen news, Director James A. Schoeneck purchased 250,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were acquired at an average price of $0.35 per share, with a total value of $87,500.00. Following the purchase, the director now directly owns 323,722 shares in the company, valued at approximately $113,302.70. This trade represents a 339.11% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thane Wettig purchased 145,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $0.35 per share, for a total transaction of $50,750.00. Following the purchase, the chief executive officer now owns 543,329 shares in the company, valued at approximately $190,165.15. The trade was a 36.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FibroGen

Hedge funds have recently bought and sold shares of the company. Two Sigma Securities LLC acquired a new position in FibroGen during the 4th quarter worth about $27,000. Velan Capital Investment Management LP acquired a new position in FibroGen during the 4th quarter worth about $42,000. XTX Topco Ltd lifted its stake in FibroGen by 423.8% during the 4th quarter. XTX Topco Ltd now owns 96,025 shares of the biopharmaceutical company’s stock worth $51,000 after acquiring an additional 77,693 shares in the last quarter. Squarepoint Ops LLC acquired a new position in FibroGen during the 4th quarter worth about $205,000. Finally, HighTower Advisors LLC lifted its stake in FibroGen by 292.8% during the 1st quarter. HighTower Advisors LLC now owns 404,488 shares of the biopharmaceutical company’s stock worth $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.