FibroGen's (FGEN) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of FibroGen (NASDAQ:FGEN - Free Report) in a report published on Thursday,Benzinga reports. They currently have a $10.00 price objective on the biopharmaceutical company's stock.

Several other research analysts have also recently commented on FGEN. William Blair reaffirmed a "market perform" rating on shares of FibroGen in a report on Wednesday, November 13th. StockNews.com assumed coverage on FibroGen in a research note on Thursday, February 13th. They set a "hold" rating on the stock.

FibroGen Stock Down 17.8 %

Shares of FGEN traded down $0.13 during midday trading on Thursday, reaching $0.58. 4,435,941 shares of the stock were exchanged, compared to its average volume of 4,872,450. The stock's 50 day simple moving average is $0.53 and its 200 day simple moving average is $0.43. FibroGen has a twelve month low of $0.18 and a twelve month high of $2.80. The company has a market cap of $58.47 million, a P/E ratio of -0.47 and a beta of 0.75.

Hedge Funds Weigh In On FibroGen

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp increased its stake in FibroGen by 416.6% in the fourth quarter. Mackenzie Financial Corp now owns 546,959 shares of the biopharmaceutical company's stock valued at $290,000 after acquiring an additional 441,083 shares during the last quarter. Velan Capital Investment Management LP bought a new position in shares of FibroGen in the 4th quarter valued at $42,000. Squarepoint Ops LLC acquired a new position in shares of FibroGen during the 4th quarter worth $205,000. Two Sigma Investments LP raised its holdings in shares of FibroGen by 19.6% during the 4th quarter. Two Sigma Investments LP now owns 604,421 shares of the biopharmaceutical company's stock worth $320,000 after buying an additional 98,888 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of FibroGen by 18.3% during the 4th quarter. Two Sigma Advisers LP now owns 878,400 shares of the biopharmaceutical company's stock worth $465,000 after buying an additional 135,600 shares during the last quarter. 72.71% of the stock is currently owned by institutional investors and hedge funds.

About FibroGen

FibroGen, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. Its lead product candidates are Pamrevlumab, a human monoclonal antibody targeting connective tissue growth factor that is in Phase III clinical development for the treatment of locally advanced pancreatic cancer; and Roxadustat, an oral small molecule inhibitor of hypoxia-inducible factor prolyl hydroxylase activity, which has completed Phase III clinical development for the treatment of anemia in chronic kidney disease in China, Europe, Japan, and other countries, as well as in Phase III clinical development for anemia related with myelodysplastic syndromes.