FibroGen (FGEN) Downgraded by ValuEngine to “Buy”

FibroGen (NASDAQ:FGEN) was downgraded by equities researchers at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

A number of other research analysts have also recently weighed in on FGEN. Zacks Investment Research cut FibroGen from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th. Stifel Nicolaus began coverage on FibroGen in a research note on Monday. They set a “buy” rating and a $71.00 price objective on the stock. BidaskClub upgraded FibroGen from a “hold” rating to a “buy” rating in a research note on Saturday, December 22nd. Mizuho restated a “buy” rating and set a $74.00 price objective on shares of FibroGen in a research note on Monday, December 17th. Finally, Citigroup upgraded FibroGen from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Tuesday, December 18th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. FibroGen currently has an average rating of “Buy” and a consensus price target of $70.40.

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FibroGen stock traded down $0.60 during midday trading on Thursday, reaching $56.96. The stock had a trading volume of 488,800 shares, compared to its average volume of 627,932. FibroGen has a twelve month low of $37.27 and a twelve month high of $68.55. The stock has a market capitalization of $4.89 billion, a P/E ratio of -32.92 and a beta of 1.77. The company has a current ratio of 6.76, a quick ratio of 6.76 and a debt-to-equity ratio of 0.20.

In other FibroGen news, Director James A. Schoeneck sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $57.17, for a total transaction of $114,340.00. Following the transaction, the director now owns 29,700 shares in the company, valued at $1,697,949. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Thomas B. Neff sold 30,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 2,646,320 shares in the company, valued at approximately $108,313,877.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,568 shares of company stock worth $11,808,518. 8.96% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in shares of FibroGen by 6.9% in the third quarter. FMR LLC now owns 8,981,236 shares of the biopharmaceutical company’s stock worth $545,610,000 after acquiring an additional 576,417 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of FibroGen by 1.8% in the third quarter. Vanguard Group Inc. now owns 6,921,874 shares of the biopharmaceutical company’s stock worth $420,503,000 after acquiring an additional 125,186 shares in the last quarter. Vanguard Group Inc lifted its stake in shares of FibroGen by 1.8% in the third quarter. Vanguard Group Inc now owns 6,921,874 shares of the biopharmaceutical company’s stock worth $420,503,000 after acquiring an additional 125,186 shares in the last quarter. BlackRock Inc. lifted its stake in shares of FibroGen by 1.9% in the third quarter. BlackRock Inc. now owns 6,301,117 shares of the biopharmaceutical company’s stock worth $382,796,000 after acquiring an additional 118,460 shares in the last quarter. Finally, Hillhouse Capital Advisors Ltd. acquired a new position in shares of FibroGen in the fourth quarter worth about $92,712,000. Institutional investors and hedge funds own 65.09% of the company’s stock.

FibroGen Company Profile

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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