FibroGen (NASDAQ:FGEN) Shares Down 8.6%

Shares of FibroGen, Inc. (NASDAQ:FGEN – Get Rating) traded down 8.6% during trading on Monday . The stock traded as low as $10.80 and last traded at $10.80. 13,539 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 837,496 shares. The stock had previously closed at $11.82.

A number of equities analysts have weighed in on the stock. StockNews.com assumed coverage on shares of FibroGen in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research upgraded shares of FibroGen from a “strong sell” rating to a “hold” rating in a report on Thursday, March 3rd. Finally, The Goldman Sachs Group cut their price objective on shares of FibroGen from $10.00 to $9.00 and set a “sell” rating on the stock in a report on Tuesday, March 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, FibroGen has a consensus rating of “Hold” and an average target price of $20.43.

The stock has a market cap of $989.54 million, a price-to-earnings ratio of -3.48 and a beta of 0.79. The company’s 50 day simple moving average is $13.45 and its two-hundred day simple moving average is $13.16.

FibroGen (NASDAQ:FGEN – Get Rating) last posted its quarterly earnings data on Monday, February 28th. The biopharmaceutical company reported ($1.45) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by ($0.77). FibroGen had a negative return on equity of 93.23% and a negative net margin of 123.25%. The firm had revenue of $16.54 million for the quarter, compared to the consensus estimate of $47.65 million. During the same period in the prior year, the company posted ($0.64) earnings per share. FibroGen’s quarterly revenue was down 74.5% on a year-over-year basis. On average, analysts forecast that FibroGen, Inc. will post -3.17 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. National Bank of Canada FI bought a new position in shares of FibroGen in the 4th quarter valued at about $33,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in FibroGen during the 1st quarter worth approximately $59,000. Point72 Hong Kong Ltd bought a new position in FibroGen during the 3rd quarter worth approximately $65,000. Royal Bank of Canada boosted its stake in FibroGen by 20.6% during the 3rd quarter. Royal Bank of Canada now owns 7,451 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 1,271 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in FibroGen during the 3rd quarter worth approximately $111,000. 75.75% of the stock is currently owned by institutional investors.

About FibroGen (NASDAQ:FGEN)

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. The company is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases, which has completed Phase III clinical development for the treatment of anemia in chronic kidney disease in the United States, Europe, China, and Japan; and in Phase II/III development in China for anemia associated with myelodysplastic syndromes.

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