Zacks Investment Research downgraded shares of FibroGen (NASDAQ:FGEN) from a buy rating to a hold rating in a research report released on Tuesday morning.

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. “

FGEN has been the topic of a number of other research reports. Leerink Swann set a $84.00 price objective on FibroGen and gave the stock a buy rating in a research note on Monday, October 15th. ValuEngine lowered FibroGen from a strong-buy rating to a buy rating in a research note on Monday, September 17th. BidaskClub lowered FibroGen from a buy rating to a hold rating in a research note on Tuesday, October 23rd. Mizuho restated a buy rating and set a $74.00 price objective on shares of FibroGen in a research note on Wednesday, August 8th. Finally, Citigroup lowered FibroGen from a buy rating to a hold rating and set a $71.00 price objective on the stock. in a research note on Wednesday, August 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $72.25.

FibroGen stock opened at $40.67 on Tuesday. FibroGen has a one year low of $38.52 and a one year high of $68.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.76 and a current ratio of 6.76. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of -23.51 and a beta of 2.15.

FibroGen (NASDAQ:FGEN) last posted its quarterly earnings data 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 return on equity of 24.59% and a negative net margin of 87.84%. The company had revenue of $29.00 million for the quarter, compared to the consensus estimate of $36.48 million. The business’s revenue was down 28.6% on a year-over-year basis. Equities research analysts expect that FibroGen will post -1.38 earnings per share for the current fiscal year.

In other FibroGen news, CEO Thomas B. Neff sold 39,636 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $60.24, for a total value of $2,387,672.64. Following the sale, the chief executive officer now owns 2,787,713 shares of the company’s stock, valued at approximately $167,931,831.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kalevi Kurkijarvi sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $60.28, for a total value of $241,120.00. Following the completion of the sale, the director now directly owns 27,700 shares in the company, valued at approximately $1,669,756. The disclosure for this sale can be found here. In the last ninety days, insiders sold 230,673 shares of company stock worth $12,905,922. Company insiders own 8.96% of the company’s stock.

Several hedge funds have recently modified their holdings of FGEN. Russell Investments Group Ltd. boosted its holdings in shares of FibroGen by 87.8% in the 1st quarter. Russell Investments Group Ltd. now owns 8,810 shares of the biopharmaceutical company’s stock valued at $407,000 after purchasing an additional 4,118 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of FibroGen by 480.6% in the 1st quarter. Millennium Management LLC now owns 100,759 shares of the biopharmaceutical company’s stock valued at $4,655,000 after purchasing an additional 83,404 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of 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 purchasing an additional 1,462 shares in the last quarter. Xact Kapitalforvaltning AB boosted its holdings in shares of FibroGen by 17.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 11,488 shares of the biopharmaceutical company’s stock valued at $719,000 after acquiring an additional 1,700 shares in the last quarter. Finally, Boston Advisors LLC boosted its holdings in shares of FibroGen by 14.9% during the 2nd quarter. Boston Advisors LLC now owns 15,575 shares of the biopharmaceutical company’s stock valued at $975,000 after acquiring an additional 2,020 shares in the last quarter. 76.52% of the stock is currently owned by hedge funds and other institutional investors.

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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