FibroGen (NASDAQ:FGEN) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.15), Briefing.com reports. FibroGen had a negative return on equity of 22.60% and a negative net margin of 85.59%. The company had revenue of $29.00 million during the quarter, compared to the consensus estimate of $36.48 million. The business’s quarterly revenue was down 28.6% on a year-over-year basis.
FGEN stock traded down $1.42 during midday trading on Friday, hitting $42.06. 515,088 shares of the company’s stock were exchanged, compared to its average volume of 795,988. The company has a current ratio of 7.95, a quick ratio of 7.95 and a debt-to-equity ratio of 0.19. The firm has a market cap of $3.65 billion, a PE ratio of -24.31 and a beta of 2.15. FibroGen has a one year low of $38.52 and a one year high of $68.55.
FGEN has been the topic of several recent research reports. Zacks Investment Research upgraded FibroGen from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Wednesday, October 17th. Leerink Swann set a $84.00 target price on FibroGen and gave the stock a “buy” rating in a report on Monday, October 15th. BidaskClub lowered FibroGen from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. ValuEngine lowered FibroGen from a “strong-buy” rating to a “buy” rating in a report on Monday, September 17th. Finally, Mizuho reiterated a “buy” rating and set a $74.00 target price on shares of FibroGen in a report on Wednesday, August 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. FibroGen currently has an average rating of “Buy” and a consensus price target of $72.25.
In other FibroGen news, Director Toshinari Tamura sold 12,000 shares of FibroGen stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $60.65, for a total value of $727,800.00. Following the sale, the director now owns 63,700 shares of the company’s stock, valued at approximately $3,863,405. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas B. Neff sold 39,636 shares of FibroGen stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $60.24, for a total value of $2,387,672.64. Following the completion of the sale, the chief executive officer now directly owns 2,787,713 shares in the company, valued at approximately $167,931,831.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 230,673 shares of company stock worth $12,905,922. Corporate insiders own 8.96% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Alliance Advisory Group LLC acquired a new stake in shares of FibroGen in the 2nd quarter valued at about $204,000. Trexquant Investment LP acquired a new stake in shares of FibroGen in the 3rd quarter valued at about $201,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of FibroGen in the 2nd quarter valued at about $236,000. Fred Alger Management Inc. acquired a new stake in shares of FibroGen in the 2nd quarter valued at about $313,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of FibroGen by 1,829.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,174 shares of the biopharmaceutical company’s stock valued at $375,000 after purchasing an additional 5,854 shares during the period. 76.69% of the stock is currently owned by hedge funds and other institutional investors.
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FibroGen, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes therapeutic agents to treat serious unmet medical needs. It is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases (HIF-PHs) that is in Phase III clinical development for the treatment of anemia in chronic kidney disease; Pamrevlumab, a human-monoclonal antibody that inhibits the activity of connective tissue growth factor, which is in Phase II clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, liver fibrosis, and Duchenne muscular dystrophy; and FG-5200, a corneal implant medical device for the treatment of corneal blindness resulting from partial thickness corneal damage.
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