FibroGen, Inc (NASDAQ:FGEN) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS
FibroGen, Inc (NASDAQ:FGEN) released its earnings results on Monday. The biopharmaceutical company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.47) by $0.01, Morningstar.com reports. FibroGen had a negative net margin of 37.60% and a negative return on equity of 36.41%. The firm had revenue of $29 million during the quarter, compared to the consensus estimate of $34.80 million.
FibroGen (NASDAQ:FGEN) traded up 48.20% during trading on Tuesday, reaching $49.50. 6,692,389 shares of the company’s stock were exchanged. The firm’s market cap is $3.46 billion. FibroGen has a 12 month low of $15.60 and a 12 month high of $51.45. The firm’s 50-day moving average price is $32.84 and its 200-day moving average price is $27.51.
Several equities analysts recently weighed in on the stock. Leerink Swann reissued an “outperform” rating and issued a $82.00 target price (up from $52.00) on shares of FibroGen in a research note on Tuesday. BidaskClub cut shares of FibroGen from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Citigroup Inc. raised their target price on shares of FibroGen to $65.00 and gave the company a “top pick” rating in a research note on Tuesday. Jefferies Group LLC reissued a “buy” rating and issued a $75.00 target price on shares of FibroGen in a research note on Tuesday. Finally, Stifel Nicolaus raised their target price on shares of FibroGen from $38.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.86.
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In other FibroGen news, CEO Thomas B. Neff sold 38,636 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $27.70, for a total value of $1,070,217.20. Following the completion of the transaction, the chief executive officer now owns 3,345,941 shares in the company, valued at approximately $92,682,565.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Pat Cotroneo sold 28,346 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $33.97, for a total value of $962,913.62. Following the completion of the transaction, the vice president now owns 170,666 shares of the company’s stock, valued at approximately $5,797,524.02. The disclosure for this sale can be found here. Insiders sold a total of 409,974 shares of company stock valued at $12,647,338 in the last 90 days. Corporate insiders own 14.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in FGEN. Russell Investments Group Ltd. acquired a new position in shares of FibroGen during the fourth quarter worth about $462,000. Norges Bank acquired a new position in shares of FibroGen during the fourth quarter worth about $8,480,000. Teachers Advisors LLC increased its position in shares of FibroGen by 3.7% in the fourth quarter. Teachers Advisors LLC now owns 461,901 shares of the biopharmaceutical company’s stock worth $9,885,000 after buying an additional 16,544 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of FibroGen during the first quarter worth about $574,000. Finally, Capital Impact Advisors LLC increased its position in FibroGen by 8.7% in the first quarter. Capital Impact Advisors LLC now owns 46,710 shares of the biopharmaceutical company’s stock valued at $1,151,000 after buying an additional 3,727 shares during the last quarter. Hedge funds and other institutional investors own 43.45% of the company’s stock.
FibroGen, Inc is a science-based biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of therapeutics to treat serious unmet medical needs. Its lead product candidate is roxadustat (FG-4592). It is also engaged in developing products, such as FG-6874, FG-3019 and FG-5200.
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