FibroGen, Inc (FGEN) Stock Rating Reaffirmed by Mizuho
FibroGen, Inc (NASDAQ:FGEN)‘s stock had its “hold” rating reissued by research analysts at Mizuho in a research report issued on Thursday. They currently have a $61.00 price objective on the biopharmaceutical company’s stock. Mizuho’s price objective indicates a potential upside of 29.46% from the company’s previous close.
The analysts wrote, “We believe Fibrogen is fairly priced. KeyPoints Earnings. For 3Q17, Fibrogen’s financials missed street estimates on reported revenue of $27.3 mil vs. consensus of $39.7 mil and missed on reported EPS of $(0.50) vs. consensus of $(0.37). License and milestone revenue recognized in the quarter appeared lower than expectations. R&D and SG&A expenses were approximately in-line with our prior projections. For 4Q17, Fibrogen expects to recognize a $15 mil milestone from AstraZeneca (AZN, not rated) related to roxadustat’s NDA filing in October 2017 in China. Quarterly earnings are usually not a driver for development stage companies like Fibrogen. In our opinion, news flow related to the pipeline development are more likely to be a catalyst. Progress for pamrevlumab in IPF. During the quarter Fibrogen reported positive topline results from their phase II trial for pamrevlumab in moderate- to-severe idiopathic pulmonary fibrosis (IPF) patients.””
Several other equities analysts have also recently issued reports on the stock. Goldman Sachs Group, Inc. (The) cut shares of FibroGen from a “buy” rating to a “neutral” rating and set a $31.00 price objective on the stock. in a research note on Friday, July 21st. Jefferies Group LLC reissued a “buy” rating and issued a $75.00 target price on shares of FibroGen in a research report on Tuesday, September 12th. Stifel Nicolaus reissued a “buy” rating and issued a $80.00 target price on shares of FibroGen in a research report on Thursday, September 14th. BidaskClub downgraded shares of FibroGen from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Citigroup Inc. lifted their target price on shares of FibroGen from $48.00 to $65.00 and gave the stock a “top pick” rating in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $65.67.
Shares of FibroGen (NASDAQ:FGEN) traded down $1.13 on Thursday, hitting $47.12. 754,500 shares of the stock traded hands, compared to its average volume of 626,675. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.21 and a current ratio of 10.83. FibroGen has a 12 month low of $19.25 and a 12 month high of $60.15.
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In other FibroGen news, insider K Peony Yu sold 7,500 shares of FibroGen stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $55.37, for a total value of $415,275.00. Following the completion of the sale, the insider now directly owns 170,104 shares in the company, valued at $9,418,658.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas B. Neff sold 38,636 shares of FibroGen stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $56.13, for a total transaction of $2,168,638.68. Following the completion of the sale, the chief executive officer now owns 3,144,573 shares of the company’s stock, valued at $176,504,882.49. The disclosure for this sale can be found here. Insiders sold 428,118 shares of company stock valued at $22,355,896 over the last quarter. Corporate insiders own 14.90% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN lifted its stake in shares of FibroGen by 53.5% in the third quarter. Wells Fargo & Company MN now owns 104,733 shares of the biopharmaceutical company’s stock worth $5,634,000 after buying an additional 36,504 shares during the last quarter. Amalgamated Bank lifted its stake in shares of FibroGen by 15.0% in the third quarter. Amalgamated Bank now owns 8,423 shares of the biopharmaceutical company’s stock worth $453,000 after buying an additional 1,097 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of FibroGen by 31.1% in the third quarter. Legal & General Group Plc now owns 27,967 shares of the biopharmaceutical company’s stock worth $1,500,000 after buying an additional 6,634 shares during the last quarter. Eagle Asset Management Inc. acquired a new stake in shares of FibroGen in the third quarter worth $46,158,000. Finally, TD Asset Management Inc. lifted its stake in shares of FibroGen by 23.7% in the third quarter. TD Asset Management Inc. now owns 31,926 shares of the biopharmaceutical company’s stock worth $1,718,000 after buying an additional 6,126 shares during the last quarter. Institutional investors and hedge funds own 47.47% of the company’s stock.
FibroGen, Inc is a science-based biopharmaceutical company discovering and developing a pipeline of first- in-class therapeutics. The Company is focused on fibrosis and hypoxia-inducible factor (HIF) biology and clinical development to advance innovative medicines for the treatment of anemia, fibrotic disease, and cancer.
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