FibroGen (FGEN) Stock Rating Reaffirmed by Mizuho

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Mizuho reaffirmed their buy rating on shares of FibroGen (NASDAQ:FGEN) in a research report report published on Tuesday morning. They currently have a $74.00 price target on the biopharmaceutical company’s stock.

“We took a closer look at Fibrogen’s pipeline product Pamrevlumab, currently in development for the treatment of diseases associated with fibrosis. We are encouraged by recent positive data in two indications; idiopathic pulmonary fibrosis (IPF) and pancreatic cancer. We believe the data lends credibility to the compound’s mechanism of action and we also highlight superior data in IPF vs. standard of care products. We reiterate our Buy rating and raise our PT to $74.”,” the firm’s analyst commented.

Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded FibroGen from a sell rating to a hold rating in a research report on Wednesday, May 2nd. ValuEngine upgraded FibroGen from a hold rating to a buy rating in a research report on Saturday, June 2nd. BidaskClub upgraded FibroGen from a hold rating to a buy rating in a research report on Thursday, May 24th. Leerink Swann reiterated an outperform rating and issued a $88.00 price objective (up from $80.00) on shares of FibroGen in a research report on Wednesday, February 28th. Finally, TheStreet upgraded FibroGen from a d rating to a c- rating in a research report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. FibroGen presently has a consensus rating of Buy and an average price target of $68.83.

FibroGen stock opened at $64.40 on Tuesday. The stock has a market cap of $5.34 billion, a PE ratio of -37.23 and a beta of 1.95. FibroGen has a 1 year low of $30.95 and a 1 year high of $64.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 8.61 and a quick ratio of 8.61.

FibroGen (NASDAQ:FGEN) last posted its earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.51) by $0.01. The company had revenue of $31.90 million during the quarter, compared to analyst estimates of $29.07 million. FibroGen had a negative return on equity of 27.70% and a negative net margin of 102.86%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.48) EPS. equities analysts forecast that FibroGen will post -1.58 EPS for the current year.

In other FibroGen news, CEO Thomas B. Neff sold 39,636 shares of the business’s stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $45.59, for a total value of $1,807,005.24. Following the sale, the chief executive officer now owns 2,950,813 shares in the company, valued at approximately $134,527,564.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jorma Routti sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, April 9th. The shares were sold at an average price of $46.59, for a total value of $279,540.00. Following the completion of the sale, the director now owns 133,840 shares in the company, valued at approximately $6,235,605.60. The disclosure for this sale can be found here. Insiders sold a total of 271,182 shares of company stock valued at $13,735,119 over the last quarter. 8.96% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its stake in FibroGen by 12.7% in the 4th quarter. Amalgamated Bank now owns 9,489 shares of the biopharmaceutical company’s stock valued at $450,000 after acquiring an additional 1,066 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in FibroGen by 41.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,883 shares of the biopharmaceutical company’s stock valued at $184,000 after acquiring an additional 1,147 shares in the last quarter. American Century Companies Inc. lifted its stake in FibroGen by 1.5% in the 1st quarter. American Century Companies Inc. now owns 84,949 shares of the biopharmaceutical company’s stock valued at $3,925,000 after acquiring an additional 1,294 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in FibroGen by 14.6% in the 1st quarter. Allianz Asset Management GmbH now owns 11,506 shares of the biopharmaceutical company’s stock valued at $532,000 after acquiring an additional 1,462 shares in the last quarter. Finally, Swiss National Bank lifted its stake in FibroGen by 1.6% in the 4th quarter. Swiss National Bank now owns 114,400 shares of the biopharmaceutical company’s stock valued at $5,423,000 after acquiring an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 63.07% of the company’s stock.

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.

Analyst Recommendations for FibroGen (NASDAQ:FGEN)

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