FibroGen Inc (FGEN) Given Consensus Recommendation of “Buy” by Brokerages

FibroGen Inc (NASDAQ:FGEN) has received an average recommendation of “Buy” from the seven research firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $76.33.

A number of equities research analysts have commented on the company. ValuEngine upgraded FibroGen from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 10th. Leerink Swann set a $82.00 target price on FibroGen and gave the company a “buy” rating in a research report on Tuesday, September 11th. Zacks Investment Research upgraded FibroGen from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Wednesday, October 17th. BidaskClub downgraded FibroGen from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. Finally, TheStreet downgraded FibroGen from a “c-” rating to a “d+” rating in a research report on Wednesday, November 21st.

FibroGen stock traded down $2.96 during trading on Monday, reaching $37.97. 961,451 shares of the company were exchanged, compared to its average volume of 436,377. FibroGen has a 52-week low of $37.64 and a 52-week high of $68.55. The company has a market cap of $3.48 billion, a price-to-earnings ratio of -21.95 and a beta of 2.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.76 and a current ratio of 6.76.

FibroGen (NASDAQ:FGEN) last posted its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.50) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.15). FibroGen had a negative net margin of 87.84% and a negative return on equity of 24.59%. The business had revenue of $29.00 million during the quarter, compared to analysts’ expectations of $36.48 million. The business’s quarterly revenue was down 28.6% compared to the same quarter last year. On average, analysts predict that FibroGen will post -1.55 EPS for the current fiscal year.

In related news, CEO Thomas B. Neff sold 30,000 shares of the business’s stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $40.93, for a total value of $1,227,900.00. Following the sale, the chief executive officer now owns 2,646,320 shares in the company, valued at approximately $108,313,877.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Pat Cotroneo sold 2,318 shares of the business’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $59.50, for a total value of $137,921.00. Following the completion of the sale, the senior vice president now owns 230,922 shares in the company, valued at approximately $13,739,859. The disclosure for this sale can be found here. Insiders sold 229,773 shares of company stock worth $11,424,203 in the last 90 days. Company insiders own 8.96% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Trexquant Investment LP purchased a new stake in shares of FibroGen in the 3rd quarter valued at $201,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of FibroGen in the 2nd quarter valued at $236,000. Pacer Advisors Inc. purchased a new stake in shares of FibroGen in the 3rd quarter valued at $246,000. Nisa Investment Advisors LLC raised its holdings in shares of FibroGen by 1,829.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,174 shares of the biopharmaceutical company’s stock valued at $375,000 after buying an additional 5,854 shares during the period. Finally, Aperio Group LLC raised its holdings in shares of FibroGen by 56.3% in the 2nd quarter. Aperio Group LLC now owns 7,004 shares of the biopharmaceutical company’s stock valued at $438,000 after buying an additional 2,523 shares during the period. Hedge funds and other institutional investors own 64.86% 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.

Further Reading: Return on Equity (ROE)

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