BlackRock Inc. increased its holdings in FibroGen, Inc (NASDAQ:FGEN) by 12.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,001,406 shares of the biopharmaceutical company’s stock after buying an additional 546,587 shares during the quarter. BlackRock Inc. owned about 7.15% of FibroGen worth $161,545,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of FibroGen by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 5,047,018 shares of the biopharmaceutical company’s stock worth $124,409,000 after purchasing an additional 392,778 shares during the period. FMR LLC grew its stake in FibroGen by 10.5% in the 1st quarter. FMR LLC now owns 1,694,574 shares of the biopharmaceutical company’s stock valued at $41,771,000 after acquiring an additional 161,143 shares during the period. State Street Corp grew its stake in FibroGen by 11.1% in the 1st quarter. State Street Corp now owns 1,514,465 shares of the biopharmaceutical company’s stock valued at $37,336,000 after acquiring an additional 150,807 shares during the period. Janus Capital Management LLC grew its stake in FibroGen by 1.1% in the 1st quarter. Janus Capital Management LLC now owns 1,363,657 shares of the biopharmaceutical company’s stock valued at $33,613,000 after acquiring an additional 14,882 shares during the period. Finally, Teachers Advisors LLC grew its stake in FibroGen by 14.5% in the 2nd quarter. Teachers Advisors LLC now owns 536,279 shares of the biopharmaceutical company’s stock valued at $17,322,000 after acquiring an additional 67,866 shares during the period. Institutional investors own 47.49% of the company’s stock.
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A number of research firms recently issued reports on FGEN. Jefferies Group LLC initiated coverage on shares of FibroGen in a research note on Monday, July 10th. They issued a “buy” rating and a $50.00 price target on the stock. Leerink Swann restated an “outperform” rating and issued a $82.00 price objective (up previously from $52.00) on shares of FibroGen in a report on Tuesday, August 8th. William Blair restated an “outperform” rating on shares of FibroGen in a report on Wednesday, August 9th. BidaskClub upgraded FibroGen from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. Finally, Citigroup Inc. raised their price objective on FibroGen from $48.00 to $65.00 and gave the company a “top pick” rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $65.67.
In other news, VP Pat Cotroneo sold 95,000 shares of FibroGen stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $50.61, for a total transaction of $4,807,950.00. Following the transaction, the vice president now owns 173,366 shares in the company, valued at $8,774,053.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas B. Neff sold 18,900 shares of FibroGen stock in a transaction on Monday, July 24th. The shares were sold at an average price of $35.06, for a total value of $662,634.00. Following the transaction, the chief executive officer now owns 3,330,780 shares in the company, valued at approximately $116,777,146.80. The disclosure for this sale can be found here. Insiders have sold 610,364 shares of company stock worth $29,792,767 in the last quarter. 14.90% of the stock is currently owned by corporate insiders.
Shares of FibroGen, Inc (NASDAQ FGEN) opened at 54.65 on Friday. The firm’s market capitalization is $3.89 billion. FibroGen, Inc has a 12 month low of $15.60 and a 12 month high of $60.15. The company’s 50 day moving average price is $53.13 and its 200-day moving average price is $37.30.
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 the Zacks’ consensus estimate of ($0.47) by ($0.01). The company had revenue of $29.00 million during the quarter, compared to analyst estimates of $34.80 million. FibroGen had a negative return on equity of 64.42% and a negative net margin of 105.59%. On average, equities analysts predict that FibroGen, Inc will post ($1.81) earnings per share for the current fiscal year.
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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