Zacks: Brokerages Expect FibroGen Inc (FGEN) Will Post Quarterly Sales of $45.37 Million

Wall Street brokerages expect FibroGen Inc (NASDAQ:FGEN) to report sales of $45.37 million for the current quarter, according to Zacks. Four analysts have provided estimates for FibroGen’s earnings, with the highest sales estimate coming in at $57.03 million and the lowest estimate coming in at $37.64 million. FibroGen reported sales of $31.91 million in the same quarter last year, which indicates a positive year over year growth rate of 42.2%. The company is expected to report its next earnings results on Wednesday, March 7th.

According to Zacks, analysts expect that FibroGen will report full-year sales of $45.37 million for the current fiscal year, with estimates ranging from $120.80 million to $140.19 million. For the next year, analysts expect that the firm will post sales of $229.55 million per share, with estimates ranging from $207.00 million to $248.35 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for FibroGen.

FGEN has been the topic of a number of analyst reports. Jefferies Group reaffirmed a “buy” rating and set a $75.00 target price on shares of FibroGen in a report on Tuesday, September 12th. Stifel Nicolaus reissued a “buy” rating and issued a $80.00 price target on shares of FibroGen in a report on Thursday, September 14th. Mizuho initiated coverage on shares of FibroGen in a report on Wednesday, October 4th. They issued a “neutral” rating and a $61.00 price target on the stock. ValuEngine lowered shares of FibroGen from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, BidaskClub lowered shares of FibroGen from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $65.67.

In other FibroGen news, Director Kalevi Kurkijarvi sold 2,000 shares of the stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $52.24, for a total transaction of $104,480.00. Following the completion of the sale, the director now owns 26,000 shares of the company’s stock, valued at approximately $1,358,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas B. Neff sold 38,636 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $56.13, for a total transaction of $2,168,638.68. Following the sale, the chief executive officer now directly owns 3,144,573 shares of the company’s stock, valued at approximately $176,504,882.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 291,346 shares of company stock worth $14,395,148. 13.60% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its position in shares of FibroGen by 71.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 57,502 shares of the biopharmaceutical company’s stock worth $1,857,000 after purchasing an additional 23,875 shares during the period. Great West Life Assurance Co. Can lifted its position in shares of FibroGen by 107.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 8,694 shares of the biopharmaceutical company’s stock worth $280,000 after purchasing an additional 4,494 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of FibroGen by 15.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 272,574 shares of the biopharmaceutical company’s stock worth $8,805,000 after purchasing an additional 36,201 shares during the period. First Trust Advisors LP purchased a new stake in shares of FibroGen in the 2nd quarter worth about $599,000. Finally, Rhumbline Advisers lifted its position in shares of FibroGen by 11.4% in the 2nd quarter. Rhumbline Advisers now owns 68,167 shares of the biopharmaceutical company’s stock worth $2,202,000 after purchasing an additional 6,986 shares during the period. 57.23% of the stock is owned by institutional investors and hedge funds.

FibroGen (NASDAQ FGEN) traded up $3.30 during trading on Wednesday, reaching $50.70. 490,500 shares of the company were exchanged, compared to its average volume of 447,700. The company has a quick ratio of 10.83, a current ratio of 10.83 and a debt-to-equity ratio of 0.16. The company has a market cap of $4,150.00, a price-to-earnings ratio of -24.98 and a beta of 1.55. FibroGen has a twelve month low of $20.95 and a twelve month high of $60.15.

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FibroGen Company Profile

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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Earnings History and Estimates for FibroGen (NASDAQ:FGEN)

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