FibroGen (NASDAQ:FGEN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $51.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.11% from the company’s previous close.

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. “

Several other analysts have also recently weighed in on the company. Mizuho reaffirmed a “buy” rating and issued a $65.00 price target on shares of FibroGen in a report on Sunday. William Blair reaffirmed a “hold” rating on shares of FibroGen in a report on Tuesday, July 2nd. ValuEngine cut FibroGen from a “buy” rating to a “hold” rating in a report on Saturday. BidaskClub raised FibroGen from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, TheStreet cut FibroGen from a “c-” rating to a “d+” rating in a report on Friday, May 24th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $61.00.

Shares of NASDAQ:FGEN traded down $0.05 on Tuesday, hitting $45.09. The company’s stock had a trading volume of 612,652 shares, compared to its average volume of 721,735. The firm’s 50-day moving average price is $45.79. FibroGen has a 1 year low of $33.51 and a 1 year high of $62.00. The stock has a market cap of $3.98 billion, a P/E ratio of -43.78 and a beta of 1.86. The company has a quick ratio of 6.16, a current ratio of 6.16 and a debt-to-equity ratio of 0.09.

FibroGen (NASDAQ:FGEN) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $1.26 earnings per share for the quarter, beating the consensus estimate of ($0.49) by $1.75. FibroGen had a return on equity of 9.62% and a net margin of 13.90%. The firm had revenue of $191.57 million for the quarter, compared to analysts’ expectations of $29.03 million. During the same quarter last year, the firm posted ($0.28) EPS. The company’s revenue was up 335.9% compared to the same quarter last year. Sell-side analysts anticipate that FibroGen will post -1.09 earnings per share for the current year.

In related news, CEO Thomas B. Neff sold 39,636 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $35.37, for a total transaction of $1,401,925.32. Following the transaction, the chief executive officer now directly owns 2,503,912 shares of the company’s stock, valued at approximately $88,563,367.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Christine Chung sold 11,250 shares of the firm’s stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $44.05, for a total value of $495,562.50. Following the transaction, the senior vice president now directly owns 157,195 shares in the company, valued at $6,924,439.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 248,174 shares of company stock worth $10,466,296. 7.83% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC grew its position in FibroGen by 2.8% during the 1st quarter. FMR LLC now owns 10,029,786 shares of the biopharmaceutical company’s stock worth $545,118,000 after acquiring an additional 269,570 shares during the last quarter. BlackRock Inc. grew its position in FibroGen by 1.0% during the 2nd quarter. BlackRock Inc. now owns 6,233,136 shares of the biopharmaceutical company’s stock worth $281,613,000 after acquiring an additional 60,249 shares during the last quarter. Janus Henderson Group PLC grew its position in FibroGen by 13.2% during the 2nd quarter. Janus Henderson Group PLC now owns 2,500,567 shares of the biopharmaceutical company’s stock worth $112,976,000 after acquiring an additional 291,808 shares during the last quarter. First Trust Advisors LP grew its position in FibroGen by 7.7% during the 2nd quarter. First Trust Advisors LP now owns 2,046,192 shares of the biopharmaceutical company’s stock worth $92,447,000 after acquiring an additional 145,732 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in FibroGen by 36.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,686,079 shares of the biopharmaceutical company’s stock worth $75,115,000 after acquiring an additional 453,519 shares during the last quarter. 64.67% of the stock is currently owned by institutional investors.

About FibroGen

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics 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 in the United States and Europe; and in Phase II/III development in China for anemia associated with myelodysplastic syndromes.

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