Goldman Sachs Maintains FibroGen Sell Recommendation

Fintel reports that on June 27, 2023, Goldman Sachs maintained coverage of FibroGen (NASDAQ:FGEN) with a Sell recommendation.

Analyst Price Forecast Suggests 828.41% Upside

As of June 1, 2023, the average one-year price target for FibroGen is 25.16. The forecasts range from a low of 16.16 to a high of $36.75. The average price target represents an increase of 828.41% from its latest reported closing price of 2.71.

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The projected annual revenue for FibroGen is 182MM, an increase of 57.17%. The projected annual non-GAAP EPS is -2.35.

What is the Fund Sentiment?

There are 382 funds or institutions reporting positions in FibroGen. This is an increase of 41 owner(s) or 12.02% in the last quarter. Average portfolio weight of all funds dedicated to FGEN is 0.10%, an increase of 9.64%. Total shares owned by institutions increased in the last three months by 3.45% to 86,974K shares. The put/call ratio of FGEN is 1.21, indicating a bearish outlook.

What are Other Shareholders Doing?

Primecap Management holds 14,127K shares representing 14.48% ownership of the company. In it’s prior filing, the firm reported owning 13,895K shares, representing an increase of 1.64%. The firm increased its portfolio allocation in FGEN by 12.79% over the last quarter.

VHCOX – Vanguard Capital Opportunity Fund Investor Shares holds 5,160K shares representing 5.29% ownership of the company. In it’s prior filing, the firm reported owning 5,058K shares, representing an increase of 1.97%. The firm increased its portfolio allocation in FGEN by 10.63% over the last quarter.

POAGX – PRIMECAP Odyssey Aggressive Growth Fund holds 4,245K shares representing 4.35% ownership of the company. In it’s prior filing, the firm reported owning 4,243K shares, representing an increase of 0.04%. The firm increased its portfolio allocation in FGEN by 39.42% over the last quarter.

Point72 Asset Management holds 3,426K shares representing 3.51% ownership of the company. In it’s prior filing, the firm reported owning 4,782K shares, representing a decrease of 39.55%. The firm decreased its portfolio allocation in FGEN by 23.94% over the last quarter.

First Trust Advisors holds 2,721K shares representing 2.79% ownership of the company. In it’s prior filing, the firm reported owning 2,976K shares, representing a decrease of 9.36%. The firm increased its portfolio allocation in FGEN by 3.28% over the last quarter.

FibroGen Background Information
(This description is provided by the company.)

FibroGen, Inc. is a biopharmaceutical company committed to discovering, developing, and commercializing a pipeline of first-in-class therapeutics. The Company applies its pioneering expertise in hypoxia-inducible factor (HIF) and connective tissue growth factor (CTGF) biology to advance innovative medicines for the treatment of unmet needs. The Company is currently developing and commercializing roxadustat, an oral small molecule inhibitor of HIF prolyl hydroxylase activity, for anemia associated with chronic kidney disease (CKD). Roxadustat is also in clinical development for anemia associated with myelodysplastic syndromes (MDS) and for chemotherapy-induced anemia (CIA). Pamrevlumab, an anti-CTGF human monoclonal antibody, is in clinical development for the treatment of locally advanced unresectable pancreatic cancer (LAPC), Duchenne muscular dystrophy (DMD), and idiopathic pulmonary fibrosis (IPF).

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K

This article originally appeared on Fintel