FibroGen, Inc (FGEN) Sets New 1-Year High at $59.00
FibroGen, Inc (NASDAQ:FGEN) reached a new 52-week high during trading on Wednesday . The company traded as high as $59.00 and last traded at $59.00, with a volume of 643,316 shares changing hands. The stock had previously closed at $56.05.
A number of analysts recently weighed in on the stock. Leerink Swann reiterated an “outperform” rating and issued a $82.00 price target (up from $52.00) on shares of FibroGen in a research report on Tuesday, August 8th. William Blair restated an “outperform” rating on shares of FibroGen in a report on Wednesday, August 9th. Jefferies Group LLC restated a “buy” rating and set a $75.00 price objective on shares of FibroGen in a report on Tuesday, August 8th. Citigroup Inc. upped their target price on shares of FibroGen from $48.00 to $65.00 and gave the company a “top pick” rating in a research note on Tuesday, August 8th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $38.00 target price (up previously from $32.00) on shares of FibroGen in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $60.17.
The company has a 50 day moving average price of $48.38 and a 200 day moving average price of $34.57. The firm’s market cap is $4.25 billion.
FibroGen (NASDAQ:FGEN) last issued its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.01). FibroGen had a negative return on equity of 64.42% and a negative net margin of 105.59%. The firm had revenue of $29.00 million during the quarter, compared to the consensus estimate of $34.80 million. On average, equities research analysts forecast that FibroGen, Inc will post ($1.80) EPS for the current year.
In other FibroGen news, Director Kalevi Kurkijarvi sold 2,000 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $33.45, for a total value of $66,900.00. Following the completion of the sale, the director now owns 32,000 shares in the company, valued at approximately $1,070,400. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Thomas B. Neff sold 38,636 shares of FibroGen stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $33.38, for a total transaction of $1,289,669.68. Following the transaction, the chief executive officer now directly owns 3,330,780 shares in the company, valued at approximately $111,181,436.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 506,828 shares of company stock valued at $22,574,671. Company insiders own 14.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in FGEN. Ameritas Investment Partners Inc. purchased a new stake in shares of FibroGen during the first quarter valued at approximately $111,000. Quantbot Technologies LP purchased a new position in FibroGen in the second quarter worth $128,000. SG Americas Securities LLC boosted its position in FibroGen by 6.5% in the second quarter. SG Americas Securities LLC now owns 6,747 shares of the biopharmaceutical company’s stock worth $218,000 after purchasing an additional 412 shares during the last quarter. Amalgamated Bank purchased a new position in FibroGen in the second quarter worth $237,000. Finally, BNP Paribas Arbitrage SA boosted its position in FibroGen by 589.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,401 shares of the biopharmaceutical company’s stock worth $239,000 after purchasing an additional 6,327 shares during the last quarter. 47.49% of the stock is owned by institutional investors.
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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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